| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | The Minister of Finance and the Minister for Land Information |
| Decision Date | 19 June 2020 |
| Pathway | Sensitive land – substantial and identifiable benefit to New Zealand |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 217.9984 hectares of land at 116-118 Huirimu Road, Te Awamutu and approximately 15.1 hectares of land at 232 Huirimu Road, Te Awamutu. |
| Consideration | $9,000,000 |
| Applicant | Mainland Poultry Limited New Zealand 28.97%; United States of America 21.17%; United Kingdom 10.41%; Channel Islands 5.99%; Cayman Islands 5.62%; Finland 3.74%; Luxembourg 3.13%; British Virgin Islands 3.08%; Germany 2.99%; Thailand 2.71%; Malaysia 2.51%; Kuwait 2.25%; Ireland 2.05%; Canada 1.26%; Japan 1.17%; Various 2.95% |
| Vendors | Narrandera Farms Limited Anne Marie McKenzie, Kim Donald McKenzie, and Redoubt Trustees XIII Limited as trustees of the K & A McKenzie Family Trust |
| Background | The Applicant is a New Zealand based agri-business that is a vertically integrated producer of eggs, egg products, and animal feeds. The Applicant is indirectly majority owned by an overseas-based investment fund with the remaining ownership held between the New Zealand founders of the Applicant. The Applicant intends to acquire the land to develop a free-range egg farm that is expected to produce a substantial number of eggs once in full production. The benefits to New Zealand include:
The OIO has taken possible delays due to COVID-19 into account in formulating special conditions of consent to the investment. |
| More information | Glenn Shewan Bell Gully PO Box 4199 Auckland 1140 |