Decision | Consent granted Section 12(b) Overseas Investment Act 2005 |
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Decision date | 6 December 2013 |
Investment | An overseas investment in sensitive land, being the Applicant's (or its subsidiaries) acquisition of rights or interests in up to 100% of the shares of Arnmore Dairy Limited which owns or controls a freehold interest in approximately 347 hectares of land located at 486 Peak Road, Oamaru. |
Consideration | $3,233,753 |
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 | Parautika Farms Limited and Francois & Shelley Tillard 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 |