| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 1 November 2011 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 5.6548 hectares of land at 762 Rotherham Road North, Waiau. |
| Consideration | $950,000 |
| Applicant | The New Zealand King Salmon Co. Limited Tiong Family, Malaysia (53%) New Zealand Public (45.5%) ING Private Equity Access Limited, Australia (1.5%) |
| Vendor | Pacifica Salmon Limited Skeggs Group Limited, New Zealand (100%) |
| Background | The Applicant is a salmon farming, processing and marketing company. The Applicant considers that the acquisition of the land at Waiau, which contains a salmon fish hatchery represents a good strategic fit with its existing activities and will increase its production capacity. 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 | Tom Arieli Glaister Ennor PO Box 63 AUCKLAND |