| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 28 August 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of approximately 4.3074 hectares of land at 9, 15, 23, 23A and 25 Ballast Road, and 282 and 292 Waipahi Gore Highway, Gore. |
| Consideration | $1,115,000 |
| Applicant | Mataura Valley Milk Limited Government of the People's Republic of China, China, People's Republic of (82.6%) Supplier Shareholders, New Zealand (9.94%) Annette and Ian Tulloch, New Zealand (3.18%) Various New Zealand and overseas persons (4.28%) |
| Vendors | Ballast Holdings Limited Annette and Ian Tulloch, New Zealand (100.0%) Trevor Thomas Woodrow New Zealand (100%) Julie Saunders New Zealand (100%) |
| Background | The Applicant is a processor of New Zealand milk based in Gore. The Investment consists of land bordering the Applicant’s milk processing factory. It intends to clear the land of its uninhabited buildings, implement a pest control programme, convert the land to pasture, and construct appropriate fencing on the boundaries. By completing the Investment, the Applicant intends to future-proof and strengthen the current and future operation of its dairy plant, and to create future opportunities for growth and expansion of its business activities. In the immediate to near term, the Investment will ensure that the Applicant’s dairy plant has adequate surrounding land to serve as a buffer zone in order to reduce potential sources of contamination, and to comply with international best practice. This is expected to assist in managing the risks in the operation of the dairy processing plant and enhance its future viability. |
| More information | Erich Bachmann Hesketh Henry Private Bag 92093 AUCKLAND |