| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 16 May 2017 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a beneficial and freehold interest in approximately 9,454.0191 hectares of land at Wairau Valley, Marlborough. |
| Consideration | Withheld under s(9)(2)(b)(ii) of the Official Information Act |
| Applicant | Nelson Forests Limited United States Public (48.0%) Various overseas persons (27.0%) Australian Public (13.0%) Danish Public (9.0%) New Zealand Public (3.0%) |
| Vendor | Ngāti Rārua Settlement Trust New Zealand (100%) |
| Background | Nelson Forests Limited currently has the Crown Forestry License over the land. The Ngāti Rārua Settlement Trust is acquiring the land from the Crown as part of a Treaty of Waitangi settlement and wishes to sell it to fund other significant projects to develop their iwi’s economic and social well being. Nelson Forests Limited also owns the Kaituna sawmill in Marlborough and around 40% of the mill’s wood supply comes from the land. Nelson Forests Limited has recently made substantial investments in the mill and this investment will secure supply to ensure the mill’s continued operations. 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 | Robert Styles C & F Legal Ltd PO Box 1049 Nelson 7040 |