| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 13 April 2012 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 72 hectares of land located at Kinleith (South Auckland District), Motueka Valley Highway (Nelson District) and State Highway 12 (North Auckland District). |
| Consideration | Nominal |
| Applicant | Hancock Natural Resource Group, Inc Canadian Public (32.6%) United States Public (31.23%) Australian Public (22.08%) Norwegian Public (14.09%) |
| Vendor | Carter Holt Harvey Group South Waikato District Council |
| Background | The relevant land adjoins part of the former Carter Holt Harvey forestry estates purchased by the Applicant in 2006. As part of the original transaction, CHH and Hancock agreed that some stopped roads would be transferred to a subsidiary of Hancock as the subsidiary would acquire the land adjoining the stopped roads. Thirteen pieces of stopped road are now ready for transfer. The total area of these stopped roads is just over 72 hectares. Acquisition of the relevant land will allow the subsidiary to continue to effectively manage the forestry estates as an integrated forestry operation. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005 by particular reference to the following factors: Overseas Investment Regulations 2005 |
| More information | Alan Paterson Russell McVeagh (Auckland) PO Box 8 AUCKLAND |