| Decision | Consent granted Sections 12(1)(b) and 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 17 June 2025 |
| Pathways | Sensitive land - Special forestry (one off) and significant business assets |
| Investment | Acquisition of up to 100% of the issued shares of Te Waihou Plantations Limited which gives an indirect interest in approximately 9,200 hectares of sensitive land. |
| Consideration | Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | KT1 Co Limited Canada 55% New Zealand 45% |
| Vendor | Te Waihou Holdings Limited Withheld under section 9(2)(b)(ii) of the Official Information Act 1982 |
| Background | The Applicant is majority owned by a Canadian pension fund. The Applicant is buying 100% of the shares in Te Waihou Plantations Limited which has interests in commercial forestry estates on sensitive land in the central North Island of New Zealand totalling approximately 9,200 hectares. The total productive area of the land is approximately 8,200 hectares, predominantly planted in pinus radiata. The Applicant plans to continue using the land for production forestry. This application was subject to a national interest assessment because the Applicant is a non-New Zealand government investor. The Minister of Finance has decided that the investment is not contrary to New Zealand’s national interest. Consent was granted as the Applicant has met the investor test criterion and special forestry test criteria. |
| More information | Andrew Petersen Bell Gully (Auckland) PO Box 4199 Auckland 1140 |