| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 14 April 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 182.7131 hectares of land at Masterton Castlepoint Road, Masterton. |
| Consideration | $225,000 |
| Applicant | RobMiJon Holdings Limited Victoria Agnich, Robert Agnich, Michael Agnich and Jonathan Agnich, United States of America (99.0%) Richard Agnich and Victoria Agnich, United States of America (1.0%) |
| Vendor | Mangapakeha Forestry Co Limited Brian Foster Tomlinson, New Zealand (27.5%) James Alan Sadler, New Zealand (27.5%) Robson Blyth King, New Zealand (22.5%) Kevin Thomas Lochore, New Zealand (17.5%) Shirley King, New Zealand (5.0%) |
| Background | The Applicant intends to acquire the land to establish, develop and eventually harvest a pine forest on the Land. The Investment will benefit New Zealand by creating jobs, increasing the productivity of the land, and introducing additional investment for development purposes. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors: Overseas Investment Act 2005 |
| More information | Tessa Kennings Chapman Tripp (Auckland) PO Box 2206 AUCKLAND 1140 |