| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 13 June 2024 |
| Pathway(s) | Sensitive land - Special forestry test (one-off) |
| Investment | Acquisition of three forests located in the Hawke’s Bay and Manawatū-Whanganui districts (being Farm Road Forest (700 hectares), Morgans Road Forest (305 hectares) and Waione Forest (272 hectares)) |
| Consideration | $23,335,000 |
| Applicant | ERI Timber New Zealand S.á.r.l. Germany 100% |
| Vendor | Afforestation Partners No.1 Limited Partnership New Zealand 100% |
| Background | The Applicant is a Luxembourg incorporated company which is ultimately owned by a German construction sector pension fund. The land to be acquired is approximately 1,278 hectares currently used for forestry purposes. The total productive area of the land is approximately 1,031 hectares, planted exclusively in pinus radiata. The Applicant intends to hold the land as a long-term investment and is committed to replanting with a further commercial tree crop after each harvest. The forests will be managed by Roger Dickie Group. Consent was granted as the Applicant has met the investor test criterion and the special forestry test criteria. |
| More information | Catherine Reid Catherine Reid Barrister |
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