| Notification | Section 23A Overseas Investment Act 2005 Schedule 4(3) – Forestry Activities – standing consent |
|---|---|
| Notification number | 2 (of 12) |
| Decision date | 24 February 2023 |
| Pathway(s) | Special forestry (standing consent) |
| Investment | Acquisition of a freehold interest in approximately 393.1140 hectares of land at Arthurton Forest, Webb Road, Waipahi |
| Consideration | $1,260,000 |
| Applicant | Matariki Forests United States of America 63% United Kingdom 16% Various 10% Luxembourg 9% Switzerland 2% |
| Vendor | Kakariki Pine Investments |
| Background | Matariki Forests was granted a standing consent under the special forestry test on 18 March 2021. This permits the Applicant to acquire up to a total of 10,000 hectares of sensitive land in up to 12 transactions by 30 September 2023. This is the second transaction under this consent. The Land is currently used as a commercial forest, and the Applicant intends to continue to use the land for this purpose. The Applicant intends to harvest the trees on the Land in approximately 2023-2025. No relevant existing arrangements on the land were identified by the Applicant. Under the standing consent the Applicant must use the land exclusively or nearly exclusively for forestry activities, and trees will be replanted following harvest. |
| More information | Tara Wylie Simpson Grierson Lumley Centre 88 Shortland Street Auckland 1141 |