Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
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Decision date | 23 October 2013 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 313 hectares of land at 91 and 201 Riversdale-Waikaia Road, Riversdale, Southland. |
Consideration | $12,000,000 |
Applicant | Insight Global Farmland Fund Limited United Kingdom Public (82.57%) Swedish Public (13.07%) Middle Eastern Public (4.36%) |
Vendor | Fermoy Farms Limited New Zealand (100%) |
Background | The Applicant intends to continue to undertake and improve the dairy farming and related business activities carried out on 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 | Martin Thomson/Pavanie Edirisuriya DLA Phillips Fox PO Box 160 AUCKLAND |