DecisionConsent Granted
Section 12(a) Overseas Investment Act 2005
Decision date5 September 2013
Investment

An overseas investment in sensitive land, being:

  • QWIL Investments (NZ) Pty Limited’s acquisition of a freehold interest in approximately 158 hectares of land at 1125 Northbank Road, Marlborough (Northbank Vineyard); and
  • Treasury Wine Estates (Matua) Limited’s acquisition of a leasehold interest in approximately 158 hectares of land at 1125 Northbank Road, Marlborough (Northbank Vineyard).
Consideration

$16,200,000 (freehold)

$26,606,880 (leasehold rental)

Joint Applicants

QWIL Investments (NZ) Pty Limited
Gold Rainbow Int'l Limited, Hong Kong (45.31%)
Trueway International Limited, Hong Kong (22.05%)
Triluck Assets Limited, Hong Kong (7.45%)
Hong Kong Public (25.1843%)
Various overseas persons (0.0057%)

Treasury Wine Estates (Matua) Limited
Australian Public (29.9%)
United Kingdom Public (22.1%)
Various overseas persons (48%)

VendorWinestock NZ Limited
Australian Public (100%)
Background

The Applicants intend to continue to operate and develop the vineyard business located on the land.

The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors:

Overseas Investment Act 2005
17(2)(a)(i) – Retention of jo
17(2)(a)(iv) – Greater efficiency/productivity
17(2)(a)(v) – Additional investment for development purposes

Overseas Investment Regulations 2005
28(c) – Affect image, trade or international relations
28(e) – Previous investments
28(g) – Enhance the viability of other investments
28(i) – Economic interests

More information

Pip England (for Treasury Wine Estates (Matua) Limited)
Chapman Tripp
PO Box 2206
AUCKLAND 1140

Melissa Clark (for QWIL Investments (NZ) Pty Limited)
Martelli McKegg
PO Box 5745
AUCKLAND 1140