Overseas investment decision for case 201420067 - Accolade Wines New Zealand Limited | Toitū Te Whenua

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision date	13 April 2015
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 30 hectares of land at 360 Delta Lakes Heights, Renwick.
Consideration	$865,000
Applicant	Accolade Wines New Zealand Limited United States of America (38%) Australian Public (19%) Various overseas persons (43%)
Vendor	Wickham Family Trust New Zealand (100%)
Background	The Applicant intends to develop the vineyard located on the land and incorporate it within its existing Marlborough vineyard operation. 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 efficiencies 17(2)(a)(v) – Additional investment for development purposes 17(2)(a)(vi) – Increased processing of primary products Overseas Investment Regulations 2005 28(d) – Owner to undertake other significant investment 28(e) – Previous investments 28(g) – Enhance the viability of other investments 28(f) – Advance Government strategy 28(i) – Economic interests
More information	Tim Tubman / Luke Fitzgibbon Chapman Tripp PO Box 2206 AUCKLAND 1140