| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 12 March 2021 |
| Pathway | Forestry (Special forestry - One-off purchase) |
| Investment | An overseas investment in sensitive land, being the Applicant’s acquisition of a freehold interest in approximately 401.5819 hectares of land located at 354 Waipuna Road, Waerenga, known as ‘Waerenga Forest’ |
| Consideration | $12,720,000 |
| Applicant | Matariki Forests United States of America (75.41%) United Kingdom (9.18%) Luxembourg (6.17%) Various (3.51%) Germany (2.16%) Cuba (1.87%) Switzerland (1.70%) |
| Vendor | Waerenga Forest Limited, Wairakau Forest Limited, and Bezique Company Limited |
| 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 land to be acquired is already used as a commercial forestry operation and has approximately 353 hectares planted in mature commercial forest with a general age class range of 19-24 years. The remainder of the land (approximately 48 hectares) is unsuitable for planting and includes riparian areas. The Applicant is purchasing the land to secure on-going timber supply. The Applicant intends to harvest the existing crop and replant and maintain a replacement crop. There are no existing arrangements in place in relation to the land. |
| More information | Michael Pollard Simpson Grierson Private Bag 92518 AUCKLAND 1141 |