|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)||King (Peter Royce) of New Zealand|
|Business activities||Agriculture - Horticulture & Fruit - Viticulture|
|Details of land involved||23.915 hectares of freehold situated at Redwood Pass Road, Awatere Valley, Marlborough being CT MB5B/432 (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 and the adjoining property (refer A200520075 which is owned by a company in which the vendor of the subject land holds 73.9 percent of the shares). The properties have been developed as vineyards. The land contains 33 hectares planted in Sauvignon Blanc in 1996, 2000 and 2004, 3.4 hectares planted in Chardonnay in 1996, and 5.4 hectares planted in Riesling in 1996. The land adjoins land that is leased by Nobilo. 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