| Decision | Consent declined Section 12(a) Overseas Investment Act 2005 Section 13(1)(c) Overseas Investment Act 2005 |
|---|---|
| Decision maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision date | 27 September 2018 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold and leasehold interest in approximately 251.92 hectares of land in Arapohue, Kaipara District. |
| Consideration | $7,870,000 |
| Applicant | Tegel Foods Limited New Zealand Public (25.78%) United States Public (23.5215%) Various overseas persons (15.648%) Australian Public (9.52%) Colonial First State Asset Management (Australia) Limited, Australia (5.01%) Perpetual Investment Management Ltd, Australia (5.0%) Singapore Public (3.807%) Cayman Islands Public (3.042%) Dutch Public (2.7045%) United Kingdom Public (2.3625%) Federal Republic of Germany, Germany (2.0115%) Canada Public (1.593%) |
| Vendors | Maree Susan Chapman and Phillip Lewis Langdon New Zealand (100%) Michael Shane Larder, Beverley Elaine Lardner and Derek Charles Halse New Zealand (100%) Lorraine Exley, Lorraine Exley and David Brendan Dennis New Zealand (100%) Riversedge Limited as Trustees of The Riverbank Trust New Zealand (100%) |
| Background | Tegel Food Limited (Tegel) intended to acquire the land to build its largest broiler chicken facility. The land consists of four blocks. The main block is currently a dairy farm and the rest are currently lifestyle properties. SH12 Limited (a member of the same wholly owned group as Tegel) would acquire a freehold interest in the land and would then lease the land to Tegel. For consent to be granted, Ministers’ needed to be satisfied that the proposed investment would result in substantial and identifiable benefit to New Zealand. The development is contingent on Tegel first obtaining all necessary resource consents under the Resource Management act 1991. Tegel has submitted a joint resource consent application to the Kaipara District Council and Northland Regional Council for the resource consents associated with the development and operation of the proposed facility. In July 2018 staff for both Northland Regional Council and Kaipara District Council recommended to the Independent Commissioners that the resource consent application for the poultry farm be declined. Ministers were not satisfied that Tegel was likely to get the resource consent required to complete its proposed development. The Ministers considered there was too much uncertainty that this development would proceed for the benefit resulting from the proposed investment to be considered likely. |
| More information | Chris Bargery Anderson Lloyd P O Box 399 Shortland Street Auckland 1140 |