Overseas investment decision for case 201410077 - Kawakawa Farm Management Limited | Toitū Te Whenua

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision date	19 September 2014
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 400.5366 hectares of land at 997 Ngaroma Road, Te Awamutu.
Consideration	$4,400,000
Applicant	Kawakawa Farm Management Limited Switzerland (87.5%) New Zealand (12.5%)
Vendor	Alan Stewart Browne and Toni Rebecca Browne New Zealand (100%)
Background	The Applicant intends to take over and develop the farming operation on the land. 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)(iii) – Increased export receipts 17(2)(a)(iv) – Increased productivity 17(2)(a)(v) – Additional investment for development purposes 17(2)(b) – Indigenous vegetation/fauna 17(2)(e) – Walking access Overseas Investment Regulations 2005 28(a) – Consequential benefits 28(e) – Previous investments 28(j) – Oversight and participation by New Zealanders
More information	James Dunne Chen Palmer PO Box 2160 WELLINGTON 6140