| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 17 October 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 248.0855 hectares of land at 803 Terrace Road, Mataura, Southland. |
| Consideration | $8,650,000 |
| Applicant | Dynamic Asset Management Company (Luxembourg) S.A. as manager of the DMC Fund FCP SIF (Luxembourg) Rentes Genevoises, Switzerland (99.6%) Swiss Public (0.4%) |
| Vendor | Solid Energy Land Holdings Limited New Zealand Government, New Zealand (100.0%) |
| Background | The Applicant, an investment manager for a Luxembourg based investment fund, intends to acquire the land, which is an existing dairy farm, with the intention to develop it to increase its carrying capacity, productivity and profitability. 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 | James Dunne Chen Palmer P O Box 2160 WELLINGTON 6015 |