Overseas investment decision for case 201210067 - Insight Global Farmland Fund Limited | Toitū Te Whenua

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision date	3 August 2012
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 358.4905 hectares of land at Wreys Bush Mossburn Road Opio.
Consideration	$12,675,000
Applicant	Insight Global Farmland Fund Limited Various (100%)
Vendor	South Quest Farm Limited New Zealand (100%)
Background	The Applicant's investment strategy is to purchase agricultural properties where investment in infrastructure, technology and improved husbandry and management can be made to raise the properties' value and productivity. 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)(i) – Creation of jobs 17(2)(a)(ii) – New technology 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 Overseas Investment Regulations 2005 28(d) – Owner to undertake other significant investment 28(f) – Advance significant government policy or strategy 28(i) – Economic Interests
More information	Martin Thomson DLA Phillips Fox PO Box 160 AUCKLAND