| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 26 August 2016 |
| Investment | An overseas investment in sensitive land, being Southern Pastures (Kowhai Farm) Limited Partnership’s acquisition of a freehold interest in approximately 252.1469 hectares of land at 479 Ardlui Road, Te Pirita. |
| Consideration | $12,000,000 |
| Applicant | Southern Pastures Limited Partnership Sweden (58.5%) Luxembourg (22%) New Zealand (2.5%) Various (17%) |
| Vendor | Drenth Holdings Limited Jan Hendrik Drenth, New Zealand (50%) Janna Berendina Drenth, New Zealand (50%) |
| Background | The Applicant is the majority equity partner in Southern Pastures (Kowhai Farm) Limited Partnership. The Applicant’s intention is for Southern Pastures (Kowhai Farm) Limited Partnership to continue to farm the land as a dairy farm. In particular, the Applicant intends that Southern Pastures (Kowhai Farm) Limited Partnership will:
The farm will be incorporated into and operated as part of the Applicant’s South Canterbury cluster of dairy farms. 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 | Simon Peart Chapman Tripp PO Box 993 Wellington 6140 |