Applicant
DMC Fund FCP SIF – Agriculture Real Assets Sub Fund
Case number(s)
201320090
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date18 March 2014
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 408.9228 hectares of land at 196 Te Tipua Valley Road, Gore.
Consideration$12,900,000
ApplicantDynamic Asset Management Company (Luxembourg) S.A. on behalf of DMC Fund FCP SIF – Agriculture Real Assets Sub Fund
Switzerland (100.0%)
VendorDelamare Farms Limited
Gerardus Cornelis Van't Klooster Hermina Alida Maria Van't Klooster Alan Bruce Candy, New Zealand (73.0%)
Gerrit Jan Bos Gerritdina Geertruida Bos, New Zealand (27.0%)
Background

The Applicant intends to intensify the use of the farm by converting from a self-contained dairy farm to a milking platform.

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
17(2)(a)(i) – Jobs
17(2)(a)(iii) – Increased export receipts
17(2)(a)(iv) – Greater productivity
17(2)(a)(iv) – Greater efficiency
17(2)(a)(v) – Additional investment for development purposes
17(2)(a)(vi) – Increased processing of primary products
17(2)(b) – Indigenous vegetation/fauna
17(2)(c) – Trout, salmon, wildlife and game
17(2)(e) – Walking access
17(2)(f) – Offer to sell riverbed to the Crown

Overseas Investment Regulations 2005
28(f) – Advance significant Government policy or strategy
28(i) – Economic interests

More informationNicholas Russell
Chen Palmer
P O Box 2160
WELLINGTON 6015