| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Date | 30 November 2017 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of: (a) a freehold interest in approximately 335.1987 hectares of land at 803 Ardlui Road, Hororata, Canterbury; and (b) a freehold interest in approximately 72.225 hectares of land at Morgans Road, Hororata, Canterbury. |
| Consideration | $17,700,000 |
| Applicant | Ramsay Dairy Farm Limited Canadian Government (100%) |
| Vendors | Haglea Farm Limited Gail and Harry Schat, New Zealand (100%) Ddot Holdings Limited Jennifer Ann Todd, New Zealand (38.5%) Neal Peter Todd, New Zealand (38.25%) Mervyn George Todd, New Zealand (23.25%) |
| Background | The Applicant is ultimately, indirectly, owned by the Public Sector Pension Investment Board. The Investment involves the acquisition of a medium sized dairy farm and a neighbouring dairy support block, to be amalgamated to create a larger dairy farm. The Applicant proposes to convert some of the dairy support land to create a larger milking platform, and to support increasing the total number of cows by approximately 400 cows. The benefits to New Zealand include:
The Applicant has previously undertaken investments that have been of benefit to New Zealand, including the creation of jobs and the introduction of additional investment for development purposes. |
| More information | Susie Kilty Buddle Findlay PO Box 2694 WELLINGTON 6140 |