Decision number200520088
Application number200520063/200620133
Date24 November 2005/13 December 2006
Offeror/applicantNorske Skog Tasman Limited
Ultimate applicant beneficial ownershipEDIT
Beneficial overseas ownership 
- Asset current0 percent
- Asset proposed100 percent
- Share currentN/A
- Share proposedN/A
Offeree(s)/seller(s)R&S (OBE) Holdings Limited
100 percent - New Zealand, Barkla (Robin Kenneth and Shaylene Gaye)
Business activitiesAgriculture - Dairy Farming
Details of land involved10.6229 hectares of freehold situated at 118 Onepu Springs Road, Kawerau being CT 283422 (South Auckland Registry).
Regions involvedBay of Plenty/Coromandel
Total consideration$101,250
Consent Sought - 1995 Regs

To acquire:

  1. an estate or interest in land which exceeds 0.4 hectares and includes/adjoins a lake the bed of which exceeds 8 hectares in area; and
  2. an estate or interest in land which exceeds 0.4 hectares and includes/adjoins land that exceeds 0.4 hectares held for conservation purposes; and
  3. an estate or interest in land which exceeds 0.4 hectares and includes/adjoins land that exceeds 0.4 hectares which is deemed a heritage or historic area; and
  4. an estate or interest in land which together with any associated land exceeds five hectares in area.
Rationale

The application has been approved as it met the criteria.

The Overseas Investment Office is satisfied that the Applicant has 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 subject land is situated near land owned by the Applicant (NST) upon which NST operates its Tasman Mill (Mill). NST owns a pipeline which runs over the subject land, which is used to transport wastewater from the Mill to wastewater treatment ponds situated adjacent to the subject land. The pipeline was built by Tasman Pulp and Paper Company Limited (Tasman) (part of the Fletcher Challenge group) which at the time owned the Mill. Several years after the pipeline was constructed, Tasman acquired the subject land. With the breakup of the Fletcher Challenge group, the Mill lost ownership of the land leading ultimately to the land being sold to the vendor by Tenon Limited.

The acquisition of the land by NST will ensure that NST is able to retain access to and maintain the pipeline, and to protect its interests in the ponds by creating a land buffer. NST proposes to lease the land back to the vendor following settlement.

The acquisition is likely to make the operation of the Mill more secure and ensure that the Mill will remain operational.

ContactWharerimu Iraia/Ben Paterson
Russell McVeagh
P O Box 8
AUCKLAND