Overseas investment decision for case 201110023 - Aquila AgrarINVEST Investitions GmbH, D/S Neuseeland Milchfarm Investitions GmbH and Alceda Star S.A. | Toitū Te Whenua

Applicant: Aquila AgrarINVEST Investitions GmbH, D/S Neuseeland Milchfarm Investitions GmbH and Alceda Star S.A.
Case number(s): 201110023
Decision date: 17 Apr 2011
Type: Decision

Decision	Consent granted Section 12(b) Overseas Investment Act 2005
Decision date	18 April 2011
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in 100.0% of the units of Kaiwera Limited Partnership which owns or controls a freehold interest in 231.0096 hectares of land at 944 Clement Rd, Kaiwera.
Consideration	$5,700,000
Applicant	Aquila AgrarINVEST Investitions GmbH, D/S Neuseeland Milchfarm Investitions GmbH and Alceda Star S.A. Germany (100%)
Vendor	Oware Trust Limited Maxwell Family, New Zealand (100.0%)
Background	The relevant land is currently used as a dairy farm. The Applicant proposes to increase production through capital investment, sound farming practices and expert management. 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 17(2)(a)(i) – Creation/Retention of jobs 17(2)(a)(iii) – Increased export receipts 17(2)(a)(iv) – Added market competition/productivity 17(2)(a)(v) – Additional investment for development purposes 17(2)(a)(vi) – Increased processing of primary products 17(2)(e) – Walking Access Overseas Investment Regulations 2005 28(c) – Affect image, trade or international relations 28(d) – Owner to undertake other significant investment 28(e) – Previous investments 28(i) – Economic Interests 28(j) – Mitigating Factor
More information	Mai Chen Chen Palmer P O Box 2160 WELLINGTON 6015

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