| Decision | Consent granted Section 13(1)(b) Overseas Investment Act 2005 |
|---|---|
| Decision date | 20 March 2013 |
| Investment | An overseas investment in significant business assets, being the establishment of a business in New Zealand by the Applicant where the total expenditure required before commencing business exceeds $100m. |
| Total cost of development | $212,000,000 |
| Applicant | Yashili New Zealand Dairy Co., Limited Zhang Family, China, People's Republic of (51.85%) CA Dairy Holdings, Cayman Islands (24.23%) Various overseas persons (23.92%) |
| Background | The Applicant plans to build a milk processing plant in the Waikato town of Pokeno. The plant will manufacture paediatric milk powder products. The Applicant believes that acquiring and operating its own manufacturing facility in New Zealand will allow it to exercise better control over the source and quality of dairy products, which will create a steady supply chain and prevent over reliance on a single supplier (the Applicant already sources milk powder from New Zealand for use in its products). The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Martin Thomson DLA Phillips Fox PO Box 160 AUCKLAND |