| Decision | Consent Granted Sections 12(1)(b) and 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 18 July 2024 |
| Pathway | Sensitive land - Special forestry test (one-off) and Significant business assets |
| Investment | Acquisition of 100% of the shares in Wairarapa Estate Limited, Blenheim Estate Limited, Southland Estate Limited and Taupo Estate Limited to be held by a subsidiary of the Applicant. |
| Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Viessmann Group GmbH & Co. KG Germany 100% |
| Vendor | ANZFF2 NZ Limited ANZFF2 NZ Limited is 100% owned by ANZFOF2 NZ Pty Limited which is in turn owned by The Trust Company (Australia) Limited as trustee for the New Forests Australia New Zealand Forest Operating Fund 2 which is wholly owned by certain overseas investment funds. The New Forests Australia New Zealand Forest Operating Fund 2 is managed by New Forest Asset Management Pty Limited. |
| Background | The Applicant is a limited partnership which is ultimately owned by the Viessmann Family. The Applicant is part of the family-owned Viessmann Generations Group, which was founded in 1917 and heads a global, broadly diversified group of companies. Viessmann Generations Group has already been investing in forest and agricultural activities internationally and with this acquisition extends the global reach to New Zealand to build a basis for further diversification of its forest portfolio. The Target Companies are commercial production forestry owning entities currently owned by another overseas person. The forestry land owned by the Target Companies comprises approximately 15,900 hectares located in Marlborough, Southland and the North Island. The Applicant intends to hold the Investment long-term and is committed to replanting with a further commercial tree crop after each harvest. The forests will be overseen by Roger Dickie Group. Consent was granted as the Applicant has met the investor test criterion and the special forestry test criteria. |
| More information | Catherine Reid Catherine Reid Barrister |