Applicant
Mount Creighton Station Limited
Case number(s)
201420055
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date17 May 2015
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 5,347 hectares of land consequent upon the tenure review of Mount Creighton Station.
ConsiderationYet to be determined
ApplicantMount Creighton Station Limited (as trustee for Mount Creighton Joint Venture)
United States of America (67%)
New Zealand (33%)
VendorHer Majesty the Queen (through the Commissioner of Crown Lands)
New Zealand (100%)
Background

The proposed transaction is consequent upon a proposed statutory tenure review under the Crown Pastoral Land Act 1998.

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)(i) – Creation of Jobs
17(2)(b) – Indigenous vegetation/fauna
17(2)(c) – Trout, salmon, wildlife and game
17(2)(d) – Historic heritage
17(2)(e) – Walking access

Overseas Investment Regulations 2005
28(e) – Previous investments
28(f) – Advance significant Government policy or strategy
28(j) – Oversight and participation by New Zealanders

More informationAbby Tearle / Gerald Fitzgerald
Kensington Swan
PO Box 10 246
WELLINGTON