|Date||20 September 2005|
|Offeror/applicant||Nobilo Wine Group Limited|
|Ultimate applicant beneficial ownership||100 percent - United States of America, Constellation International Holdings Limited|
|Beneficial overseas ownership|
|- Asset current||0 percent|
|- Asset proposed||100 percent|
|- Share current||N/A|
|- Share proposed||N/A|
|Offeree(s)/seller(s)||Block 3 Limited and Wainui Farm Vineyard Limited|
60 percent - New Zealand, Evans (David Maxwell)
20 percent - New Zealand, Feickert (Barry and Dianne)
20 percent - New Zealand, McOnie (Colin Wayne and Yvonne)
|Business activities||Agriculture - Horticulture & Fruit - Viticulture|
|Details of land involved||26.441 hectares of freehold situated at Redwood Pass Road, Awatere Valley, Marlborough being CTs 159815 and 159816 (Marlborough Registry).|
|Consent Sought - 1995 Regs||To acquire an estate or interest in land which together with any associated land exceeds five hectares in area.|
The application has been approved as it met the criteria.
The Overseas Investment Office is satisfied that the applicant has significant business experience and acumen relevant to and is demonstrating financial commitment towards the investment. The Overseas Investment Office is further satisfied that the persons who exercise control over the applicant are of good character and not the kind of persons referred to in section 7(1) of the Immigration Act 1987.
The Applicant (Nobilo) proposes to acquire the subject property which has been developed as a Sauvignon Blanc vineyard by the vendors. The land contains 22.9 hectares planted in Sauvignon Blanc vines during 2003 and 2004. The land adjoins land that is leased by Nobilo, and the acquisition is part of Nobilo's expansion strategy. The proposed acquisition will augment Nobilo's grape supply ensuring a long-term supply of grapes required to meet export demand.
The proposal is likely to result in the following benefits:
|Contact||Robert Parker/Justine Tuite|
P O Box 2206