| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision date | 1 July 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in approximately 174ha of land located at Matamata, Putaruru and Waitoa; and An overseas investment in significant business assets, being the Applicant’s acquisition of property in New Zealand used in carrying on business in New Zealand for consideration possibly exceeding $100m (as the rent payable over the terms of the leases (including renewal terms) might exceed $100m). |
| Consideration | $100,000,000+ |
| Applicant | Inghams Enterprises (NZ) Pty Limited United States Public (28%) Various overseas persons (25%) Canada Public (17%) Singapore Public (14%) Dutch Public (10%) United Kingdom Public (6%) |
| Vendor | Inghams Enterprises (NZ) Pty Limited/Unknown Purchaser(s) |
| Background | The Applicant is selling its current freehold interest in the relevant sensitive land and replacing it with a leasehold interest in the same land for commercial reasons. The Applicant will continue its current poultry business on the land. The overseas investment transaction has satisfied the criteria in sections 16 and 18 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 Regulations 2005 |
| More information | David Butler Russell McVeagh PO Box 8 AUCKLAND |