| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 16 July 2013 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 228.1415 hectares of land at Waimana, Whakatane. |
| Consideration | $501,000 |
| Applicant | Blakely Pacific Limited Eddy Family, United States of America (100.0%) |
| Vendor | Waimana Forest Farm Limited New Zealand Public and Various Entities, New Zealand (98.13%) Australian Public (1.87%) |
| Background | The Applicant intends to further develop the afforestation project on the land by investing in pruning and thinning operations which is likely to result in high quality clearwood. 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 | Craig Nelson Simpson Grierson Private Bag 92518 Wellesley Street AUCKLAND |