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Applicant
West Coast Forests Limited Partnership, Fiera Comox Global Sustainable Timberland Fund (Canada) L.P, and Fiera Comox Global Sustainable Timberland Fund (Canada II) L.P
Case number(s)
202400484
Decision date
Type
Decision
DecisionConsent Granted
Section 12(1)(a) Overseas Investment Act 2005
Decision makerToitū Te Whenua Land Information New Zealand
Decision date28 August 2024
PathwaysSpecial forestry (One-off purchase)
National interest assessment
InvestmentAcquisition of a 35-year forestry right over approximately 26,700 hectares of forestry land (comprising 16 forests) on the West Coast of the South Island
ConsiderationWithheld under s9(2)(b)(ii) of the Official Information Act 1982
ApplicantsWest Coast Forests Limited Partnership, Fiera Comox Global Sustainable Timberland Fund (Canada) L.P, and Fiera Comox Global Sustainable Timberland Fund (Canada II) L.P
Canada 100%
VendorNgāi Tahu Forestry Limited
New Zealand 100%
Background

West Coast Forests Limited Partnership is a newly established investor, ultimately owned by Canadian investment funds. 
The land is currently being used for forestry and this will remain unchanged.

The underlying freehold land is owned by Ngāi Tahu Forestry Limited who will acquire a 15% interest in West Coast Forests Limited Partnership as a joint venture partner.

After the acquisition of the forestry right, two of West Coast Forests Limited Partnership’s upstream owners (which are the other 2 applicants) may increase their interests in Fiera Comox Global Sustainable Timberland Fund Limited Partnership up to 100%.

Consent was granted as the Applicant has met the investor test criterion and the special forestry test criteria.
The Minister of Finance has decided that the investment is not contrary to New Zealand’s national interest.

More informationElena Chang
Bell Gully (Wellington)
PO Box 1291
WELLINGTON 6140

This assessment report was released as part of an Official Information Act request:

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