| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 24 September 2012 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 196.8576 hectares of land at 159 Bobbing Creek Road, Ngapara, Otago. |
| Consideration | $1,640,000 |
| Applicant | Holcim (New Zealand) Limited Various overseas persons (46.89%) Thomas Schmidheiny, Switzerland (20.1%) Swiss Public (18.0%) Eurocement Holding AG, Switzerland (10.12%) Capital Group Limited, United States of America (4.89%) |
| Vendor | Hugh Alexander Dougald Matheson New Zealand (100%) |
| Background | The Applicant is acquiring the land to support coal mining operations on adjoining land also owned by the Applicant. 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 | Tim Barclay Anthony Harper PO Box 2646 CHRISTCHURCH 8140 |