Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
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Decision date | 9 June 2014 |
Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 136 hectares of land at Tussocky Road, Enfield, North Otago (Abercairney Farm). |
Consideration | $4,200,000 |
Applicant | Craigmore Farming NZ LP United Kingdom Public (35%) Hong Kong Public (17%) New Zealand Public (10%) Various overseas persons (38%) |
Vendor | Abercairney Farms Limited New Zealand (100%) |
Background | The Applicant intends to carry out extensive development to realise the full potential of the land and associated farming operations. Abercairney Farm shares a boundary with other dairy farms owned by the Applicant and will form an important part of Craigmore Group’s overall farming strategy in North Otago. 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 |