| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 9 October 2023 |
| Pathway(s) | Sensitive land – Special forestry test (one off) |
| Investment | Ponga Silva Limited - Acquisition of Waiotahi Forest Estate 2013.1306 ha in the Bay of Plenty Region for forestry activities |
| Consideration | $27,000,000 |
| Applicant | Ponga Silva Limited Germany 49% United Kingdom 18% United States of America 8% Ireland 7% Luxembourg 6% Various 12% |
| Vendors | Monte Capital Limited Switzerland 100% |
| Background | The Applicant applied for consent under the special test relating to forestry activities set out in section 16A(4) of the Act. The Applicant is a New Zealand incorporated company that is a repeat forestry investor having been granted consent in several previous applications under the special forestry test. The land to be acquired is 2013.1306 ha of freehold and forestry right that is currently used for forestry purposes. The total productive area of the property is approximately 1338.4 ha and is exclusively planted in Pinus radiata. The Applicant plans to continue using the land for forestry. Consent was granted as the Applicant has met the investor test criterion and the special forestry test criteria. |
| More information | Sarah Blackmore Russell McVeagh (Auckland) PO Box 8 AUCKLAND 1140 |
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