31 October 2018
Land Information Minister Eugenie Sage and Associate Finance Minister David Clark declined consent under the Overseas Investment Act for Tegel Foods Ltd to buy approximately 252 hectares of land at Arapohue, near Dargaville to build a broiler chicken farm.
Tegel’s application was declined because of the considerable uncertainty about whether the development would proceed given the uncertainty that it would obtain the resource consents needed.
In July 2018, both Kaipara District Council and Northland Regional Council recommended to the independent commissioners that resource consent for the farm be declined. The hearing process has since been suspended.
Tegel had applied to buy four parcels of adjacent rural land.
For consent to be granted, Ministers needed to be satisfied that the investment would result in substantial and identifiable benefit to New Zealand. Given the uncertainty, Ministers were not satisfied that the benefits were likely to occur.
In a separate decision under the Overseas Investment Act, the Ministers approved an application by Philippines-owned Bounty Holdings New Zealand Ltd to buy up to 100 percent of the shares in Tegel Group Holdings Ltd for approximately $437 million.
Email: email@example.com or phone: 027 566 5251