Decision | Consent granted Sections 12(a) of the Overseas Investment Act 2005 |
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Decision date | 7 August 2013 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 503 hectares of land located at Tram Road, Kinleith Forest, Taupo District (known as Rogerson and Tatua farms). |
Consideration | $11,718,000 |
Applicant | Southern Pastures Limited Partnership Forsta AP-fonden, Sweden (99%) Southern Pastures Founders Limited, New Zealand (1%) |
Vendor | Carter Holt Harvey HBU Limited Graeme Richard Hart, New Zealand (100%) |
Background | The Applicant is acquiring the properties to run as commercial dairy farms. The Applicant intends to increase sustainable production and develop the farming operations through additional capital expenditure, sound farming practices and good management. 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 | Chris Bougen Chapman Tripp PO Box 993 WELLINGTON 6140 |