Section 12(a) Overseas Investment Act 2005
|Decision Date||15 September 2016|
An overseas investment in sensitive land, being the acquisition by Constellation Brands New Zealand Limited (“Consent Holder”) of:
|Applicant||Constellation Brands New Zealand Limited|
Constellation Brands Inc, United States of America (100.0%)
Bendigo Station Vineyard Limited
Bendigo Station Developments Limited
The Applicant is a large wine producer that supplies a number of well known brands to both the domestic and export markets and intends to acquire the land to increase production of wine for the premium end of the market in particular.
The Applicant proposes to upgrade and develop the land to increase efficiency and productivity, which is expected to result in increased export receipts.
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
Overseas Investment Regulations 2005
|More information||Tara Wylie|
Private Bag 92518