| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 20 January 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 41.2500 hectares of land at Rapaura Road, Marlborough (“the Land”). |
| Consideration | $6,775,000 |
| Applicant | Lion - Beer, Spirits & Wine (NZ) Limited Japanese Public (78.45%) United States Public (9.38%) Various overseas persons (5.95%) United Kingdom Public (5.17%) Australian Public (1.05%) |
| Vendor | Ascross Investments Limited The Wine Portfolio Limited (previously known as Morton Estate Wines Limited) Canada (100%) |
| Background | The Applicant is New Zealand’s largest brewer and a major producer of wine in New Zealand. The Applicant intends to purchase the Land and “Morten Estate” brand to add to its portfolio of premium New Zealand wine brands. 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 | David Butler Russell McVeagh PO Box 8 AUCKLAND |