|Date||4 May 2006|
|Offeror/applicant||Ambreed N.Z. Limited|
|Ultimate applicant beneficial ownership||100 percent - Netherlands, CR Delta VRV Holdings BV|
|Beneficial overseas ownership|
|- Asset current||0 percent|
|- Asset proposed||100 percent|
|- Share current||N/A|
|- Share proposed||N/A|
|Offeree(s)/seller(s)||Peninsula Farm Limited|
100 percent - New Zealand, Coulson (Clive James and Sherry Esther)
|Business activities||Agriculture - Other Livestock - Other Livestock Farming|
|Details of land involved||238.1259 hectares of freehold situated at 193 Mangiti Road, Ngaruawahia being CTs SA217/209, SA248/284, SA248/285, SA570/230, SA570/231, SA570/232, and SA5D/1142 (South Auckland Registry).|
|Consent sought||To acquire:|
The application has been approved as it met the criteria.
The Overseas Investment Office is satisfied that the individuals with control of the Applicant collectively have business experience and acumen relevant to the overseas investment, and that the Applicant has demonstrated financial commitment towards the overseas investment. The Overseas Investment Office is further satisfied that each individual that exercises control over the Applicant is of good character and is not an individual of the kind referred to in section 7(1) of the Immigration Act 1987.
Ambreed NZ. Limited (Ambreed) carries on business in New Zealand as a dairy semen production and sales business. Ambreed owns a 133.55 hectare property at Kiwitahi Station Road, Morrinsville which is currently used for the housing of bulls while semen is undergoing testing. The Applicant proposes to relocate the facility situated at Kiwitahi Station Road, Morrinsville by selling that property and acquiring the subject property. The subject property is better suited for segregating bulls away from other dairy animals in order to prevent IBR virus infection. Ambreed advises that the European Union has required semen sold for use in the European Union be IBR free for New Zealand origin semen since 1 January 2005.
The proposal is likely to result in the following benefits:
|Contact||Brynn Gilbertson/Louise Hill|
P O Box 4199