| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 21 August 2015 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 224 hectares of land at Dovendale Road, Tasman (McEwan & Monterey Forests). |
| Consideration | $2,800,000 |
| Applicant | Nelson Forests Limited |
| Vendor | McEwans Pines Limited and Monterey Pines Limited |
| Background | The Forests on the land will complement the Applicant's existing forestry business in Nelson and Marlborough. Pruned logs from the Forests will be processed in the Applicant's Kaituna sawmill and structural logs will be supplied to the Nelson region's structural sawmills. Following harvest the area will be planted back into plantation forest so as to maintain an ongoing sustainable future log supply in the Nelson/Marlborough regions. 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 | Kathy Carr C & F Legal Ltd PO Box 1049 Nelson 7040 |