DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision Date1 March 2017
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in 13.7330 hectares of land at 21 Blicks Road, Marlborough.
Consideration$1,717,235
ApplicantLion - Beer Spirits & Wine (NZ) Limited
Japanese Public (78.45%)
United States Public (9.38%)
Various overseas persons (5.95%)
United Kingdom Public (5.17%)
Australian Public (1.05%)
VendorWodecroft Limited
Donald Ernest John Elley and Kathleen Cecil Elley, New Zealand (100.0%)
Background

The Applicant is leasing the land to increase its guaranteed grape supply as it expands its wine production facility in Marlborough.

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)(iii) – Increased export receipts
17(2)(a)(iv) – Greater efficiency or productivity
17(2)(a)(vi) – Increased processing of primary products

Overseas Investment Regulations 2005
28(e) – Previous investments
28(g) – Enhance the viability of other investments (low weighting)

More informationEd Smithies
Russell McVeagh
PO Box 8
AUCKLAND