| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 19 June 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 8.8246 hectares of land at 210 Ruapare Road, Twyford, Hastings. |
| Consideration | $1,250,000 |
| Applicant | Turners & Growers Limited Federal Republic of Germany, Germany (73.07%) New Zealand Public (26.8074%) Various overseas persons (0.1226%) |
| Vendor | JP & HA Nelson Partnership New Zealand (100%) |
| Background | The Applicant is one of New Zealand's leading distributors, marketers and exporters of premium fresh produce. The Applicant annually distributes over 1 billion apples and pears. The Applicant owns a number of orchards in New Zealand. To assist its strategy of ensuring the supply of specific apple varieties to the global market, the Applicant seeks to acquire the land. The Applicant intends to develop the land into an apple orchard. 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 | Joe M Windmeyer and Emma Barnett Russell McVeagh PO Box 8 AUCKLAND |