Applicant
NMP Farm Investment GmbH and Oceania Agrar Investitions GmbH
Case number(s)
201210066
Decision date
Type
Decision
DecisionConsent granted
Section 12(b) Overseas Investment Act 2005
Decision date27 July 2012
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in 100% of the units of Pukeokahu Farming Limited Partnership which owns or controls a freehold interest in 991.7232 hectares of land at 1406 Pukeokahu Road, Taihape.
Consideration$8,672,300 (includes plant and stock)
ApplicantNMP Farm Investment GmbH and Oceania Agrar Investitions GmbH
Oceania Agrar GmbH & Co. KG and Aquila AgrarINVEST III GmbH & Co. KG, Germany (100.0%)
VendorPukeokahu Properties Limited
New Zealand (100%)
Background

The Applicant intends to develop the farm to increase its carrying capacity, productivity and profitability with a simpler more focused production system.

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)(iii) – Increased export receipts
17(2)(a)(iv) – Greater efficiency or 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(a) – Consequential benefits
28(e) – Previous investments
28(i) – Economic interests

More informationNicholas Russell
Chen Palmer
P O Box 2160
WELLINGTON 6015