| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 21 March 2016 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 1,191.8778 hectares of land at Stockerau Station, 810 Herepuru Road, Whakatane. |
| Consideration | $8,500,000 |
| Applicant | Emna Erma Holdings Limited Emmanuel Roger Denis, China, People's Republic of (50.0%) Nancy Ning Chu Sun, China, People's Republic of (50.0%) |
| Vendor | Stockerau Station Limited Erika Emma Fransen, John Lawrence Fransen, and Diprose Miller Trustees 2013 Limited, New Zealand (46.35%) Ivan John Fransen, New Zealand (37.555%) Deborah Ruth Fransen, New Zealand (16.095%) |
| Background | The Applicant plans to develop the Land progressively to increase the productivity and profitability of the existing sheep farm. The Investment is likely to result in a number of benefits; including new jobs, greater efficiency and productivity, and significant investment for development purposes as pasture and infrastructure is upgraded. 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 | James Dunne Chen Palmer P O Box 2160 WELLINGTON 6015 |