| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 10 November 2016 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 5.3806 hectares of land (Land) at 10 Shortland Road, Oamaru North. |
| Consideration | $580,000 |
| Applicant | NZ Binxi (Oamaru) Foods Limited Zhiyun He, China, People's Republic of (57.65%) Qiaogang Zhang, China, People's Republic of (24.7%) Suzhou Industrial Park Kunwumin'he Jiuding Investment Center, China, People's Republic of (6.33%) Suzhou Industrial Park Kunwumin'an Jiuding Investment Center, China, People's Republic of (5.85%) Suzhou Industrial Park Kunwumin'le Jiuding Investment Center, China, People's Republic of (5.47%) |
| Vendor | Gordon John Greaney, Lance Phillip Greaney and Wayne Vincent Greaney as trustees of a family trust New Zealand Investors, New Zealand (100%) |
| Background | The Applicant’s trading subsidiary, Lean Meats Oamaru, operates a meat processing plant on land adjoining the Land. The Applicant intends to develop an old woolshed on the Land into a head office and to redevelop an existing dwelling on the Land into staff accommodation for employees of the Applicant’s trading subsidiary. 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 | Christina Lefever Duncan Cotterill PO Box 5 CHRISTCHURCH |
This assessment report was released as part of an Official Information Act request.
NZ Binxi (Oamaru) Foods Limited’s Annual Reporting under OI consents 201610121 and 201520010
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