Overseas investment decision for case 201220080 - Rayonier Canterbury LLC

An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in up to an additional 74% of the shares of Matariki Forestry Group which owns or controls:

• a freehold interest in approximately 74,918 hectares of forestry land; and
• a leasehold interest in approximately 5,155 hectares of forestry land;

comprised in numerous forestry plantations.

An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in up to an additional 74% of the shares of Matariki Forestry Group, the consideration of which exceeds $100m.

The Applicant is increasing its current 24% interest in Matariki Forestry Group for commercial forestry purposes.

The overseas investment transaction has satisfied the criteria in sections 16 and 18 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)(ii) – New technology
17(2)(a)(iv) – Greater productivity and efficiencies

Overseas Investment Regulations 2005
28(a) – Consequential Benefits
28(c) – Affect image, trade or international relations
28(e) – Previous investments
28(f) – Advance significant government policy or strategy
28(g) – Enhance the viability of other investments
28(i) – Economic Interests