OIO Decision Summary - Solomons Island Winery (NZ) Limited

Decision Summary - Solomons Island Winery (NZ) Limited

Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision date	13 May 2009
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 42.4642 hectares of land at Dakins Road, Gladstone, Wairarapa.
Consideration	CONFIDENTIAL
Applicant	Solomons Island Winery (NZ) Limited United States of America (100.0%)
Vendor	Mebus Estate Limited New Zealand (100.0%)
Background	The Applicant wishes to acquire the relevant land to continue and further develop the vineyard and winery operation presently being conducted on the land. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors: Overseas Investment Act 2005 17(2)(a)(i) – Creation/Retention of jobs 17(2)(a)(iii) – Increased export receipts 17(2)(a)(iv) – Added market competition/Productivity 17(2)(a)(v) – Additional investment for development purposes 17(2)(a)(vi) – Increased processing of primary products Overseas Investment Regulations 2005 28(b) – Key person in a key industry 28(c) – Affect image, trade or international relations
More information	Hamish Gordon Nowland Gordon & Associates P O Box 170 WELLINGTON 6140