|Date||2 July 2007|
|Offeror/applicant||Barenbrug Holding BV|
|Ultimate applicant beneficial ownership||62.1 percent - Netherlands, Barenbrug (Hubertus Josephus)|
33.7 percent - Netherlands, Bardo Oosterhout
4.2 percent - Netherlands, Other
|Beneficial overseas ownership|
|- Asset current||N/A|
|- Asset proposed||N/A|
|- Share current||91.8299 percent|
|- Share proposed||100 percent|
|Offeree(s)/seller(s)||New Zealand Public of New Zealand|
|Business activities||Agriculture - Grain, Sheep, Beef, Cattle - Crop Farming|
|Details of land involved||163.0529 hectares of freehold situated at Old West Coast Road and Addingtons Road, Canterbury being CTs CB57/69, CB10F/180, CB742/31, CB742/32 and CB10F/124.|
|Consent sought||To acquire up to 100 percent of the specified securities of Barenbrug Southern Limited.|
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.
Barenbrug Holding BV (Barenbrug) is the parent company of the Royal Barenbrug Group which operates in the business of breeding, producing and marketing of forage (ie for stock feed) and amenity (ie to bring some benefit to the land on which the crop is grown). Barenbrug has 20 subsidiaries in 12 countries. Barenbrug seeks consent to acquire the 8.17 percent of the shares in Barenbrug Southern Limited (Barenbrug Southern) that it does not already own.
Barenbrug Southern in turn owns 100 percent of New Zealand Agriseeds Limited (Agriseeds). Barenbrug has been a shareholder in Barenbrug Southern for nearly 20 years. Barenbrug's New Zealand operations complement its businesses in Europe, North and South America and China.
Barenbrug views the acquisition of the remaining 8.17 percent of shares in Barenbrug Southern as being important to the continuing expansion and success of its seed research and production operations. The subject land is used for intensive plant breeding, research, parent seed production and cultivar evaluation. As part of rotational requirements, occasional commercial crops of grasses, cereals and pharmaceutical crops are grown.
P O Box 5