Overseas investment decision for case 201420017 - Southern Pastures Limited Partnership

An overseas investment in sensitive land, being the Applicant's acquisition of:

• a freehold interest in approximately 531ha of land located at Rakaia Terrace Road, Mid Canterbury (Mead Farm); and
• a freehold interest in approximately 0.4ha of land located at Rakaia Terrace Road, Mid Canterbury (Council Land).

Mead Pastoral Limited Partnership
Germany (68.6%)
Luxembourg (6.58%)
New Zealand (24.8%)

Selwyn District Council
New Zealand (100%)

The Applicant intends to operate the land as part of its South Canterbury portfolio, and increase performance through shared efficiencies, additional capital expenditure and sound farming practices.

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)(iii) – Increased export receipts
17(2)(a)(iv) – Greater productivity and efficiency
17(2)(a)(v) – Additional investment for development purposes
17(2)(a)(vi) – Increased processing of primary products
17(2)(b) – Indigenous vegetation/fauna
17(2)(e) – Walking access
17(2)(f) – Offer to gift riverbed to the Crown

Overseas Investment Regulations 2005
28(a) – Consequential benefits
28(e) – Previous investments
28(f) – Advance significant Government policy or strategy
28(g) – Enhance the viability of other investments
28(i) – Economic interests
28(j) – Oversight and participation by New Zealanders.