| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 17 May 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 54.4262 hectares of land at 72 Hawkesbury Road, Renwick, Marlborough. |
| Consideration | $8,672,158 |
| Applicant | Vinpac International NZ Limited Australian Public (98.44%) New Zealand Public (1.06%) Various overseas persons (0.5%) |
| Vendor | Michael Robert and Robyn Elizabeth Tiller as partners in the Isabel Estate Partnership (In Receivership) and Isabel Estate Vineyard Limited (In Receivership) New Zealand (100%) |
| Background | The Applicant is acquiring the land as a base from which it can centralise currently outsourced viticultural activities and work more closely with local growers, while also producing grapes and wine. 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 | Andrew Petersen / Elena Chang Bell Gully PO Box 4199 AUCKLAND 1140 |