Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
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Decision date | 25 October 2013 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 413.1839 hectares of land at 114 Griggs Road, RD 11, Dorie, Rakaia. |
Consideration | $25,100,000 |
Applicant | CO.FI.BA. SRL Guido Barilla, Italy (28.0%) Luca Barilla, Italy (28.0%) Paolo Barilla, Italy (27.0%) Emanuela Barilla, Italy (17.0%) |
Vendor | Brook Farms Limited Willy Leferink, New Zealand (50.0%) Albertien Jeanet Leferink, New Zealand (50.0%) |
Background | The Applicant intends to make additional capital investment in the dairy farm located on the property and to develop significant indigenous biodiversity on the farm. 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 | Tessa Kennings Chapman Tripp PO Box 2206 AUCKLAND 1140 |