| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 5 March 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in approximately 1,122 hectares of land at 899 Whitecliffs Road, Malvern (Glen Arlie Forest). |
| Consideration | $10,179,000 |
| Applicant | Matariki Forests United States Public (64.935%) United Kingdom Public (12.0295%) Luxembourg Public (10.136%) Various overseas persons (8.577%) Swedish Public (2.5025%) Dutch Public (1.82%) |
| Vendor | PF Olsen Tisa Pty Ltd (as trustee of the Australasian Timberland Fund II) Australian Public (85.8%) United Kingdom Public (13.2%) German Public (1.0%) |
| Background | The Applicant has applied for consent under the special test relating to forestry activities set out in section 16A(4) of the Act. Glen Arlie Forest has three stages of forest plantation due for rolling harvest over the next two decades. The Applicant intends to harvest the existing crop and replant and maintain a similar replacement crop. The Applicant is purchasing Glen Arlie Forest to secure on-going timber supply and to replace non-freehold forestry interests. The Applicant will continue to maintain public access over the land. The Applicant intends to hold the land indefinitely. |
| More information | Michael Pollard Simpson Grierson Private Bag 92518 AUCKLAND 1141 |