| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 31 October 2016 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 381.5247 hectares of forest land at 314 Flightys Road, Wellington, also known as Fernhill Forest. |
| Consideration | $4,249,817 |
| Applicant | United Forestry Group Limited Australia (35.0%) China (35%) New Zealand (30.0%) |
| Vendor | NZSF Timber Investments (No. 3) Limited New Zealand (100.0%) |
| Background | The Applicant currently has no forestry operations in New Zealand. The Applicant’s business plan is to buy and consolidate forest land and cutting rights from small-scale owners in the southern North Island and the northern South Island, and to manage and operate those forests as a single forest estate. The Applicant sees the Investment is an important first step in progressing this business plan. 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 Overseas Investment Regulations 2005 |
| More information | Susie Kilty Buddle Findlay PO Box 2694 WELLINGTON 6140 |