Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
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Decision date | 25 November 2013 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 403 hectares of land located at 96 Pig Island Rd, Windsor, North Otago (Waiareka Farm). |
Consideration | $12,325,000 |
Applicant | Craigmore Farming NZ LP Craigmore Sustainables (Farming) N.V, being mostly (New Zealand Public 4.2%) Various overseas persons (up to 95%, currently 69.6%) New Zealand Public (currently 12.2%) Various overseas (18.2%) |
Vendor | North Otago Farm Limited New Zealand (100%) |
Background | The Applicant intends to develop the land in order to realise the full potential of the dairy farming operation 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 | Christina Lefever Duncan Cotterill PO Box 5 CHRISTCHURCH |