| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 12 April 2011 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 17.1559 hectares of land at 560 Haruru Rd, Wainui, Auckland. |
| Consideration | To be advised |
| Applicant | Fletcher Concrete and Infrastructure Limited New Zealand Public (66.11%) Australian Public (33.56%) Various overseas persons (0.29%) North American Public (0.04%) |
| Vendor | Bruce Andrew Hellyer New Zealand (100%) |
| Background | Winstone Aggregates a division of the Applicant, has been operating a quarry on the land since 1973 firstly under a contract agreement with the then Rodney District Council then under a Profit a Prendre. The proposed acquisition by the Applicant will enable it to increase the efficiencies in its quarry operations on the land and ensure long term access to product for the entire life of the quarry. 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 | Greg Allen Simpson Grierson (Auckland) Private Bag 92518 Wellesley Street AUCKLAND |