| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 10 March 2022 |
| Pathway(s) | Special forestry (One-off purchase) |
| Investment | An overseas investment in sensitive land, being the Applicants acquisition of forestry rights in 15,485 hectares of land within the Mohaka Forest located in the Hawkes Bay and Gisborne regions |
| Transaction Value | Withheld under s.9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Pan Pac Forest Products Limited |
| Vendor | Ngati Pahauwera Development Trust Limited New Zealand (100%) |
| Background | Pan Pac Forest Products Limited (Pan Pac) is a fully integrated forest products company, which has been operating in Hawke’s Bay since 1971. Pan Pac already holds the existing Crown Forestry Licence (CFL) over the land, however over time the CFL will cease and be replaced with the forestry rights being granted to Pan Pac by the new landowner. As noted, Pan Pac is currently already operating on the Land under the CFL, and will continue to use the Land for forestry purposes under the new forestry right arrangements. The Land is part of the Mohaka Forest and does not contain any residential or farm land. Of the total area, 12,576 hectares is planted in production forestry (predominantly radiata pine). The remainder of the land is unplanted, including scrub, buffer areas and unplantable areas such as ridges, gullies, and infrastructure such as roads and tracks. |
| More information | Lauren Archer MinterEllisonRuddWatts (Wellington) Level 18, 125 The Terrace, Wellington 6011 |