| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 16 December 2014 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 46.1544 hectares of land at 45 Northburn Station Road, Cromwell. |
| Consideration | Withheld under S(9)(2)(b)(ii) and S9(2)(ba) of the Official Information Act. |
| Applicant | Cloudy Bay Vineyards Limited Moet Hennessy Louis Vuitton, France (66.0%) Diageo Plc, United Kingdom (34.0%) |
| Vendor | Northburn Wine Company Limited New Zealand (100%) |
| Background | The Applicant is an owner and operator of vineyards in the Marlborough region. The Applicant is acquiring the land to secure a further supply of grapes, in order to increase its production and sales of high end pinot noir from the Central Otago region. 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 | Amanda Spratt Minter Ellison Rudd Watts PO Box 3798 AUCKLAND 1140 |