| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 16 November 2022 |
| Pathway(s) | Benefit to New Zealand (Benefit to New Zealand - Farm land) |
| Investment | Acquisition of freehold interest in approximately 4.1134 hectares at Tancreds Road, Lincoln, Canterbury |
| Asset value | $775,000 |
| Applicant | Germinal Holdings New Zealand Limited United Kingdom (100%) |
| Vendor | Broadfield Farm Limited New Zealand (100%) |
| Background | The Applicant is a New Zealand incorporated company. It is a plant breeding, seed production, marketing and distribution company, which develops products for the livestock industry. It is ultimately owned by Germinal Holdings, incorporated in Northern Ireland. The Applicant is acquiring the Land primarily to use as a site for forage variety testing and plant breeding. The investment is likely to result in new jobs, increased productivity, and advancement of the government’s economic and environmental policies. Taking into account the size and characteristics of the Land, Toitū Te Whenua LINZ is satisfied that the benefit to New Zealand will be substantial and identifiable. The Applicant has met the investor test under the Act. |
| More information | Glenn Shewan Bell Gully (Auckland) PO Box 4199 Auckland 1140 |
See the attached assessment report linked below, which was published in response to an Official Information Act request:
Overseas investment assessment report for Germinal Holdings New Zealand Limited