Monte Forestry Limited

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Decision	Consent granted Section 12(a) Overseas Investment Act 2005
Decision date	23 November 2011
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 5,022.4875 hectares of land and approximately 1480 hectares of leasehold/licence land at Waikura/Pakira Stations located at 1904 Waikura Road, East Cape.
Consideration	$16,250,000
Applicant	Monte Forestry Limited Christian Welte, Switzerland (100.0%)
Vendor	The Ingleby NZ Limited Partnership The Ingleby Trust, United Kingdom (100.0%)
Background	The Applicant is combining three adjoining farms into a single forestry and sheep/beef farming operation (refer Case 201120016). The area of forestry on the relevant land will increase in accordance with the objectives of the East Coast Forestry Project which aims to control excessive erosion in the Gisborne Area. 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)(b) – Indigenous Vegetation/Fauna 17(2)(f) – Offer to sell riverbed to the Crown Overseas Investment Regulations 2005 28(a) – Consequential Benefits 28(e) – Previous investments 28(f) – Advance significant government policy or strategy 28(g) – Enhance the viability of other investments 28(i) – Economic Interests
More information	Ian Blackman Blackman Spargo PO Box 6206 ROTORUA

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