| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 11 February 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 1,317.2122 hectares of land at 1437 Manganui Road, Awakino, Northern Taranaki. |
| Consideration | $6,000,000 |
| Applicant | Ceol & Muir Inc. Rafael Grozovsky, Italy (50%) Federico Grozovsky, Argentina (50%) |
| Vendor | G M Bryant Limited New Zealand (100%) |
| Background | The Applicant intends to take over and develop the farming operation at the Onetai Station. 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 |
| More information | Gerald Fitzgerald Kensington Swan PO Box 10-246 WELLINGTON 6143 |