| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 2 December 2011 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 48.5117 hectares of land at 1028 Heslerton Road, Dunsandel. |
| Consideration | $1,111,111 |
| Applicant | Synlait Milk Limited Bright Dairy and Food Co., Ltd, China, People's Republic of (51.0%) New Zealand Public (36.9803%) Japanese Public (12.0197%) |
| Vendor | Synlait Farms Limited New Zealand Public (75.47%) Japanese Public (24.53%) |
| Background | Synlait Milk Limited (Synlait) proposes to acquire the freehold of the land at Dunsandel which it currently leases. The land is the site of Synlait’s milk processing facility. Obtaining long term control of the land will give Synlait a solid basis and secure position on which to continue building its business to a level that will be of substantial benefit to Canterbury and New Zealand. 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 | Amanda Spratt Minter Ellison Rudd Watts (Auckland) PO Box 3798 AUCKLAND 1140 |