NMP Farm Investment GmbH and PP1 Agrar Ozeanien GmbH

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Decision	Consent granted Section 12(b) Overseas Investment Act 2005
Decision date	9 August 2011
Investment	An overseas investment in sensitive land, being the Applicant's acquisition of rights or interests in up to 100.0% of the units of Tahawai Pastoral Limited Partnership which owns or controls a freehold interest in 192.1253 hectares of land at 145 Orawia-Pukemaori Road, Orawia, Southland.
Consideration	$5,700,000
Applicant	NMP Farm Investment GmbH and PP1 Agrar Ozeanien GmbH Aquila AgrarINVEST III GmbH & Co. KG and PP1 Agrar Ozeanien Investitions GmbH & Co. KG, Germany (100.0%)
Vendor	Pukeawa Farms Limited New Zealand (100%)
Background	The Applicant intends to develop and lift production from the property which will continue to be operated as a dairy farm. Proposed developments include the construction of a new 50 bale rotary dairy shed with a meal feeding system, establishment of a new effluent pond with modern technology, provision for a tanker track, improvement of drainage in some of the wetter areas and the fencing off of various waterways. 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 17(2)(b) – Indigenous Vegetation/Fauna 17(2)(c) – Trout, salmon, wildlife and game Overseas Investment Regulations 2005 28(e) – Previous investments 28(i) – Economic Interests 28(j) – Mitigating Factor
More information	Nicholas Russell Chen Palmer P O Box 2160 WELLINGTON 6015

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