Decision | Consent granted Section 13(1)(b) Overseas Investment Act 2005 |
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Decision date | 20 March 2013 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition (either directly or through an 80% - 100% owned subsidiary of the Applicant) of a freehold interest in approximately:
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Consideration | $6,000,000 |
Applicant | Craigmore Farming NZ LP Craigmore Sustainables (Farming) N.V, being various overseas persons (up to 95%, currently 24.77%) New Zealand Public (currently 75.33%) |
Vendor | Cooper Horticultural Limited (In Receivership) New Zealand (100%) |
Background | The Applicant intends to improve the value and productive capacity of the orchards located upon the land. 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 | Christina Lefever Duncan Cotterill PO Box 5 CHRISTCHURCH |