| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Overseas Investment Office |
| Decision date | 31 October 2018 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 321.4120 hectares of land at Kakariki Farm Road, Kotemaori, Hawke’s Bay. |
| Consideration | $1,100,000 |
| Applicant | Pan Pac Forest Products Limited Japan (75.4%) United States of America (10.6%) United Kingdom (5.9%) Various overseas persons (5.6%) Belgium (2.5%) |
| Vendor | Taypier Forestry No 2 Limited New Zealand (100%) |
| Background | The Applicant is a fully integrated forestry and timber products company established to operate in the forestry and wood processing industries to acquire and operate forestry assets. The Applicant intends to acquire the land to operate as a forestry plantation, to harvest the current commercial crop of Pinus radiata trees pursuant to an existing forestry right (expected to occur between 2022 and 2025), and then efficiently replant the land with a new commercial crop of Pinus radiata trees. The benefits to New Zealand include:
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| More information | Paul Foley Minter Ellison Rudd Watts Box 2793 WELLINGTON |