|Date||23 November 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)||Leslie (Stuart Mark) of New Zealand|
|Business activities||Agriculture - Horticulture & Fruit - Viticulture|
|Details of land involved||91.2718 hectares of freehold situated at 375 New Renwick Road, Blenheim, Marlborough being CTs MB35/294 and 204480 (Marlborough Registry).|
|Consent Sought||To acquire an estate or interest in land which together with any associated land is or includes non-urban land and exceeds 5 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 carries out a fully integrated viticulture business, which includes the growing and development of grapes, and the manufacture, importation, distribution and sale of red and white wine within New Zealand and, increasingly, for export markets. The Applicant advises that export growth has been constrained by grape supply. The Applicant proposes to acquire the subject property, currently used for pastoral purposes, to undertake a viticultural development in order to secure an additional grape supply. The property contains a plantable area of approximately 76 hectares which is likely to be planted in sauvignon blanc.
The proposal is likely to result in the following benefits:
|Contact||Robert Parker/Justine Tuite|
P O Box 2206