| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 30 October 2019 |
| Pathway(s) | Sensitive land – special forestry test |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 522.167 hectares of land at 968 Wallaces Ford Road, Hindon. |
| Consideration | $2,500,000 |
| Applicant | Corisol New Zealand Limited Switzerland (100%) |
| Vendor | Deep Stream Farms Limited New Zealand (100%) |
| Background | The Applicant has applied for consent under the special test relating to forestry activities set out in section 16A(4) of the Act. The Applicant is a subsidiary of a family-owned Swiss company. The Applicant has previously invested in New Zealand and has overseen forestry investments here since 2011. The Applicant plans to develop the Land into a commercial forest. The Land is currently used primarily for sheep farming, with some small areas that are used for forestry purposes. The Applicant plans to plant the Land by winter 2021, and replant after harvest as part of normal commercial forestry operations. The investment aligns with the Applicant’s broader plans to create an appropriately scaled forestry business. |
| More information | Ranui Calman Greenwood Roche PO Box 139 Christchurch 8140 |