Applicant
NMP Farm Investment GmbH and Oceania Agrar Investitions GmbH
Case number(s)
201220062
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date21 February 2013
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 1,027.1538 hectares of land at Waipa Valley Road, Te Kuiti.
Consideration$6,600,000
ApplicantNMP Farm Investment GmbH and Oceania Agrar Investitions GmbH
Oceania Agrar GmbH & Co. KG and Aquila AgrarINVEST III GmbH & Co. KG, Germany (100.0%)
VendorKoromiko Grazing Limited
New Zealand (100%)
Background

The Applicant intends to convert the farm to a sheep and beef breeding and finishing farm and 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)(vi) – Increased processing of primary products
17(2)(c) – Trout, salmon, wildlife and game
17(2)(e) – Walking access
17(2)(f) – Offer to sell riverbed to the Crown

Overseas Investment Regulations 2005
28(e) – Previous investments
28(i) – Economic interests

More informationNicholas Russell
Chen Palmer
P O Box 2160
WELLINGTON 6015