Applicant
Matai Pacific Limited
Case number(s)
201520070
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision Date18 March 2016
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 14.4300 hectares of land at Waimea Drive, Te Puke.
Consideration$1,250,000
ApplicantMatai Pacific Limited
United Kingdom Public (65.0147%)
New Zealand Public (34.9853%)
Vendor

Jean Lilian Robertson & FL Trustees 2011 Limited & Robert John Linton
New Zealand (100%)

James Thomas Robertson & Lloyd David Higgins
New Zealand (100%)

Background

The Applicant currently has interests in three kiwifruit orchards, two located at Pongakawa and one at Te Puke.

The Applicant intends to develop the land at Waimea Drive, Te Puke, into a productive 10.02 canopy hectare kiwifruit orchard (3.01 canopy hectares of G3 SunGold kiwifruit and 7.01 canopy hectares of Hayward Green kiwifruit).

The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The ‘benefit to New Zealand’ criterion was satisfied by particular reference to the following factors:

Overseas Investment Act 2005
17(2)(a)(i) – Jobs
17(2)(a)(iii) – Increased export receipts
17(2)(a)(iv) –Greater efficiency or productivity

Overseas Investment Regulations 2005
28(a) – Consequential benefits
28(e) – Previous investments
28(g) – Enhance the viability of other investments
28(j) – Oversight and participation by New Zealanders

More informationMatthew Tustin
Cooney Lees Morgan
PO Box 143
TAURANGA