| Decision | Consent granted Section 12(1)(b) and section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 23 January 2026 |
| Pathway | Sensitive land – Farm land benefit test |
| Investment | Acquisition of 74.9% of the shares in Trufa Aotearoa Limited (TAL) which owns sensitive land at 77 Bleak House Road, Darfield, followed by TAL acquiring residential land at 399 Old West Coast Road, Templeton. |
| Consideration | $10,710,700 |
| Applicant | Vasily Korovkin Russia 100% |
| Vendor | Ragged Point Limited New Zealand 80% Russia 20% |
| Background | The Applicant is an academic economist who holds a New Zealand Permanent Resident Visa and currently resides and works in Spain. The Applicant is acquiring 74.9% of the shares in TAL after which TAL will acquire residential land that will be used to support a truffle farming operation. TAL is owned by Ragged Point Limited of which the Applicant is already a 20% shareholder. The main benefits to New Zealand likely to occur as a result of the Investment include economic benefits in the form of capital expenditure, retention and creation of employment and new export receipts. Consent was granted as the Applicant met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Alan Lear Barrister antitrust.co.nz |