| 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 429.6916 hectares of land at 89 Swain Rd, Edendale, Southland. |
| Consideration | $17,235,760 |
| Applicant | DAH Beteiligungs GmbH Daniel Wolfgang Hopp, Germany (100.0%) |
| Vendor | Michael Hunter Farley, Christine Mary Farley and Diprose Miller Trustees Limited as trustees of the Kamahi Trust New Zealand (100%) |
| Background | Kamahi Farm is currently used as a dairy farm. The Applicant also proposes to acquire (through its unit holding in Kamahi Farms Limited Partnership) an indirect interest in a 80.7750 hectare property known as Farview Farm which is used as runoff and adjoins Kamahi Farm (refer Case 201020039). 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 |