Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
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Decision date | 14 February 2014 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 478 hectares of land (Kohitere Forest) located at Denton Road and Gladstone Road, Levin. |
Consideration | $644,000 |
Applicant | Forestry Fund 9 NZ Limited Various overseas persons (70%) United States Public (21%) United Kingdom Public (9%) |
Vendor | Matariki Forests United States Public (64%) Various overseas persons (36%) |
Background | The Applicant will continue to operate the land as a commercial forestry operation. 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 |