Cerberus Forestry Limited
Case number(s)
Decision date
DecisionConsent granted
Section 12(1)(a) Overseas Investment Act 2005
Decision makerThe Minister for Land Information and the Associate Minister of Finance
Decision date20 February 2024
Pathway(s)Sensitive land – Benefit test
InvestmentAcquisition of a freehold interest in approximately 1,343 ha located at 16451 Route 52, 424 Daggs Road and 145 Mangarei Road, Masterton
ConsiderationWithheld under section 9(2)(b)(ii) of the Official Information Act 1982
ApplicantCerberus Forestry Limited
Austria 100%
VendorHamish Malcolm Kyle and John Scott Kyle as trustees of the Hamish Kyle Trust
New Zealand 100%

The Applicant is ultimately majority owned by Wolfgang Leitner (Austrian). The Applicant is acquiring a sheep and beef farm in Masterton to convert into production forestry and is likely to export the logs at maturity. The land is located close to two of the Applicant’s existing forestry blocks.

The Land consists of 45ha of LUC 3, 998ha of LUC 6 and 300ha of LUC 7.

The key benefits likely to occur as a result of the investment include the creation of jobs, increased revenue from timber sales, increased investment in the land and a reduction in net carbon emissions.

Consent was granted as Ministers were satisfied that the Applicant has met the investor test criterion and that the Investment is likely to result in benefit to New Zealand.

More informationCatherine Reid
Catherine Reid Barrister