| Decision | Consent Granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision date | 17 December 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in up to 100.0% of the units of Kamahi Farms Limited Partnership which owns or controls a freehold interest in 80.7550 hectares of land at 89 Swain Road, Edendale, Southland. |
| Consideration | $3,239,240 |
| Applicant | DAH Beteiligungs GmbH Daniel Wolfgang Hopp, Germany (100.0%) |
| Vendor | Farview Farms Limited Christine Mary Farley and Michael Hunter Farley, New Zealand (100.0%) |
| Background | The land known as Farview Farm, is currently used as a dairy runoff and support farm. The Applicant also proposes to acquire (through its unit holding in Kamahi Farms Limited Partnership) an indirect interest in a 429.6916 hectare property known as Kamahi Farm which adjoins Farview Farm(refer Case 201020040). It is intended that the two farms will be operated as one expanded dairy farm. The Applicant’s directors and advisors have identified New Zealand as a country with a good economic and stable political system, with agriculture playing a significant part of the economy. 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 | Charlie Brown Rhodes & Co. PO Box 13444 CHRISTCHURCH |