| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 24 July 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 396 hectares of land located at 865 Balmoral Station Road, Culverden, Hurunui, Canterbury. |
| Consideration | $19,800,000 |
| Applicant | GMO Farm Land Optimization Fund, LP United States Public (66%) Swiss Public (13%) United Kingdom Public (12%) Various overseas persons (9%) |
| Vendor | Triangle Pastoral Limited New Zealand (100%) |
| Background | The Applicant intends to generate attractive investment returns by carrying out improvements to the dairy farm operation carried out on the land and in particular by increasing the amount of effective dairy pasture and the size and quality of the dairy herd, under the management of a New Zealand agricultural consultant. 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 | Martin Thomson DLA Phillips Fox PO Box 160 AUCKLAND |