Decision Summary - Gussin (Robert Zalmon and Patricia Elizabeth) of United States of America
| Decision number | 200710060 |
|---|---|
| Application number | 200620158 |
| Date | 29 May 2007 |
| Offeror/applicant | Gussin (Robert Zalmon and Patricia Elizabeth) of United States of America |
| Ultimate applicant beneficial ownership | 100 percent - United States of America |
| Beneficial overseas ownership | |
| - Asset current | 0 percent |
| - Asset proposed | 100 percent |
| - Share current | N/A |
| - Share proposed | N/A |
| Offeree(s)/seller(s) | Villa Maria Estate Limited 100 percent - New Zealand, Fistonich (George Vijeceslav) |
| Business activities | Agriculture - Horticulture & Fruit -Viticulture |
| Details of land involved | 10.4 hectares of freehold situated at Rapaura Road, Blenheim being CT 28301 (Marlborough Registry). |
| Regions involved | Nelson/Marlborough |
| Total consideration | $2,925,000 |
| Consent sought | To acquire an interest in land which, either alone or together with any associated land of that type, is or includes non-urban land and exceeds 5 hectares in area. |
| Rationale | The application has been approved as it met the criteria. The Overseas Investment Office is satisfied that the Applicants have business experience and acumen relevant to and are demonstrating financial commitment towards the investment. The Overseas Investment Office is further satisfied that the Applicants are of good character and not the kind of persons referred to in section 7(1) of the Immigration Act 1987. Background The Applicants, Dr Robert and Dr Patricia Gussin, are existing vineyard owners in New Zealand and are existing suppliers to Villa Maria Estate Limited (Villa Maria) (the Vendor). Outline of Proposed Development The land is an established vineyard containing 9.09 planted hectares. It is proposed that the Applicants will enter into a Vineyard Management Agreement and Grape Supply Agreement with Villa Maria Estate Limited (Villa Maria) (the Vendor) which will enable the land to be continued to be managed by Villa Maria. Villa Maria intends to apply the capital released from the sale of the land to the Applicant towards the promotion and development of New Zealand wine sales overseas. Rationale for Proposed Development The Applicants propose to acquire the land from Villa Maria to further the Applicants interest in the New Zealand wine industry. Our Assessment The proposal is likely to result in the following benefits:
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| Contact | Peter Radich Radich Dwyer P O Box 646 BLENHEIM |
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