Decision Summary - Paritua Vineyards Limited
| Decision number | 200620069 |
|---|---|
| Application number | 200620078 |
| Date | 3 November 2006 |
| Offeror/applicant | Paritua Vineyards Limited |
| Ultimate applicant beneficial ownership | 100 percent - Hong Kong, Fisher (Gary Alan) |
| Beneficial overseas ownership | |
| - Asset current | 0 percent |
| - Asset proposed | 100 percent |
| - Share current | N/A |
| - Share proposed | N/A |
| Offeree(s)/seller(s) | Lyons (John Malcolm and George Alexander) of New Zealand |
| Business activities | Agriculture - Horticulture & Fruit - Viticulture Agriculture - Grain, Sheep, Beef, Cattle - Sheep Farming |
| Details of land involved | 77.6996 hectares of freehold situated at Maraekakakaho Road, Hastings being part CT 232860 (Hawkes Bay Registry). |
| Regions involved | Gisborne/Hawkes Bay |
| Total consideration | $1,574,888 |
| 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 individuals with control of the Applicant collectively have business experience and acumen relevant to the overseas investment, and that the Applicant has demonstrated financial commitment towards the overseas investment. The Overseas Investment Office is further satisfied that each individual that exercises control over the Applicant is of good character and is not an individual of the kind referred to in section 7(1) of the Immigration Act 1987. Paritua Vineyards Limited (Paritua) has established a vineyard and winery operation upon 67.2163 hectares of land, adjoining the subject land, that Paritua's shareholder has previously received consent to acquire (refer D200110052 and D200110053). The land also contains a wine tasting and retail shop. Paritua proposes to acquire the subject land to further expand the vineyard. |
| Contact | David Baker Baker MacCallum PO Box 8510 HAVELOCK NORTH |
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