Overseas investment decision for case 201410110 - Fletcher Concrete and Infrastructure Limited | Toitū Te Whenua

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision date	20 August 2014
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 45.4582 hectares of land at 61-67 Te Roto Road, Otaki.
Consideration	$3,000,000
Applicant	Fletcher Concrete and Infrastructure Limited New Zealand Public (44.0%) Australian Public (30.0%) Various overseas persons (26.0%)
Vendor	Kinnoul Investments Limited Sarah Clayton-Bray, New Zealand (50.0%) Ian Clayton-Bray, New Zealand (50.0%)
Background	The Applicant is acquiring the land to develop a quarry. 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)(vi) – Increased processing of primary products Overseas Investment Regulations 2005 28(a) – Consequential benefits 28(e) – Previous investments 28(g) – Enhance the viability of other investments 28(j) – Oversight and participation by New Zealanders
More information	Brigid McArthur Greenwood Roche Chisnall PO Box 25501 WELLINGTON 6146