|Date||24 November 2005/13 December 2006|
|Offeror/applicant||Norske Skog Tasman Limited|
|Ultimate applicant beneficial ownership||EDIT|
|Beneficial overseas ownership|
|- Asset current||0 percent|
|- Asset proposed||100 percent|
|- Share current||N/A|
|- Share proposed||N/A|
|Offeree(s)/seller(s)||R&S (OBE) Holdings Limited|
100 percent - New Zealand, Barkla (Robin Kenneth and Shaylene Gaye)
|Business activities||Agriculture - Dairy Farming|
|Details of land involved||10.6229 hectares of freehold situated at 118 Onepu Springs Road, Kawerau being CT 283422 (South Auckland Registry).|
|Regions involved||Bay of Plenty/Coromandel|
|Consent Sought - 1995 Regs|
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.
|Contact||Wharerimu Iraia/Ben Paterson|
P O Box 8