Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
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Decision date | 25 February 2014 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 507 hectares of land located at Blairlogie - Langdale Road, Masterton (known as Oban Forest). |
Asset value | $1,025,000 |
Applicant | Latifundium Oban Forest Limited Liechtenstein (64.2%)Germany (35.8%) |
Vendor | Oban North Forestry Partnership Custodial Company Limited New Zealand (100%) |
Background | The Applicant intends to grow the existing forest to maturity, harvest and then replant Oban Forest as an intergenerational investment. 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 | Gordon Wong Duncan Cotterill PO Box 10-376 WELLINGTON |