| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 22 October 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 10.0480 hectares of land at 7 Upper Waiwera Rd, Rodney. |
| Consideration | $1,001,000, plus the loan amount outstanding as at settlement date pursuant to a loan agreement between the Vendor and PHC Treasury Limited as varied and assigned by PHC Treasury Limited to Waiwera Water New Zealand Limited. |
| Applicant | Waiwera Water New Zealand Limited Mikhail Khimich, Russia (60.0%) John Donald St Clair Brown, New Zealand (40.0%) |
| Vendor | Waiwera Valley Properties Limited John Donald St Clair Brown, New Zealand (100.0%) |
| Background | The Applicant bottles, sells and distributes Waiwera artesian water. The Applicant will purchase the land to extract water from the bores on the land, and (subject to resource consent) construct a water bottling facility to bottle water taken from the land. 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 Overseas Investment Regulations 2005 |
| More information | Alastair Hercus Buddle Findlay (Wellington) PO Box 2694 WELLINGTON 6140 |