ERI Timber New Zealand S.á.r.l.
Case number(s)
Decision date
DecisionConsent declined
Section 12(1)(a) Overseas Investment Act 2005
Decision makerThe Minister for Land Information and the Associate Minister of Finance
Decision date4 October 2023
Pathway(s)Sensitive land – Benefit test 
InvestmentAcquisition of a freehold interest in approximately 500 hectares of land in Hawke's Bay (the Land).
ConsiderationWithheld under section 9(2)(b)(ii) of the Official Information Act 1982
ApplicantERI Timber New Zealand S.á.r.l.
Germany 100%
VendorsWithheld under section 9(2)(a) of the Official Information Act 1982
New Zealand 100%

The Applicant is ultimately owned by a German pension fund which represents employees and firms from the German construction sector. The Applicant is a new investor into New Zealand and has a mandate to invest in New Zealand forestry.

The Land is easy rolling country with some flat land. It is operated as a sheep and beef farm with some cropping and with a small area of existing forestry.

The Land is a mixture of LUC 6 (approximately 90%) and LUC 3 (approximately 10%).

The Applicant intended to convert the Land to production forestry by planting approximately 400 hectares of radiata pine trees.

The Applicant claimed that the Investment would benefit New Zealand economically through increased job opportunities and increased revenue off the Land.

The Applicant also claimed that the Investment would provide various environmental, public access, and advancement of significant government policy benefits.

Consent was declined as Ministers were ultimately not satisfied that the likely benefit was proportionate to the sensitivity of the land and the nature of the overseas investment.

More informationCatherine Reid 

See the attached Assessment report linked below, which was published in response to an Official Information Act request:

Assessment reports for overseas investments in a number for forestry applications under the Overseas Investment Act 2005

Related files