| Decision | Consent granted Section 12(b) Overseas Investment Act 2005 |
|---|---|
| Decision date | 16 December 2011 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in up to 50.0% of the shares of BRDP Limited Partnership which owns or controls a freehold interest in 1,543.8088 hectares of land near Invercargill located at:
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| Consideration | CONFIDENTIAL |
| Applicant | Southern Trustees 2010 Limited and McCulloch Trustees 2010 Limited as trustees of the Tieke Trust Tachril Family, Indonesia (100%) |
| Vendor | Blue River Dairy Products Limited, Antara AG Limited, Merona Limited, Southern Deer Corporation Limited, 2C Management Limited (together, the “Blue River Group”) Keith Neylon Springhills Trust, New Zealand (100%) |
| Background | The Applicant’s investment will be used to commercialise the Blue River Group’s existing sheep milking systems and technologies. The Applicant considers it is uniquely placed to use its network of business contacts in Indonesia and South East Asia to promote and market Blue River Group’s products. 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 | Andrew Petersen Bell Gully (Auckland) PO Box 4199 AUCKLAND 1140 |