Section 12(a) Overseas Investment Act 2005
|Decision Date||14 December 2017|
|Investment||An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in 19.9142 hectares of land at 112 Tennant Road, Hastings.|
|Applicant||T&G Global Limited|
New Zealand Public (5.93%)
Various overseas persons (0.09%)
|Vendor||Geoffrey Kenneth Taylor, Carolyn Marie Taylor, and SH 5 Trustee Limited as trustees of the Tennant’s Bend Farm Trust|
New Zealand (100%)
Apollo Apples (2014) Limited is a 100% subsidiary of the Applicant. The Applicant is a grower, distributor, marketer, exporter, and processor of fresh produce.
The Applicant intends to use the land to develop an apple orchard, growing Envy, Jazz, and Galaxy apple varieties predominantly for export, with the expected end of the orchard life being in 2040.
The investment is likely to result in the following benefits to New Zealand:
|More information||Joe Windemeyer|
PO Box 8