| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 09 July 2024 |
| Pathway | Sensitive land - Special forestry test (One-off purchase) |
| Investment | Acquisition of Maunga Forest near Dannevirke, consisting of approximately 517 hectares (subject to survey), for the purpose of forestry activities. |
| Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Salm-Salm Timber Luxembourg S.à.r.l. Germany 88% Luxembourg 12% |
| Vendor | Melrose Station Limited Partnership New Zealand 100% |
| Background | The Applicant is a Luxembourg based company, established for the purpose of making forestry investments. The Applicant is ultimately owned by eight limited partners, being insurance companies, private investors, and the Applicant itself. The land to be acquired is approximately 517 hectares currently used for forestry purposes. The total productive area of the land is approximately 476 hectares, planted exclusively in pinus radiata. The land is sensitive only for being over 5 hectares of non-urban land. The Applicant intends to hold the land as a long-term investment and is committed to replanting with a further commercial tree crop after each harvest. The forests will be managed 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 |