Decision Consent granted
Section 12(a) Overseas Investment Act 2005
Decision makerOverseas Investment Office
Decision date25 September 2018
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in 18.9668 hectares of land at 207 Thompson Road, Havelock North (“Land”).
ConsiderationWithheld under s9(2)(b)(ii) of the Official Information Act
ApplicantT&G Global Limited
BayWa Aktiengesellschaft (73.99%)
China Public (11.6302%)
Legend Holdings Group, China, People's Republic of (8.3598%)
New Zealand Public (5.09%)
New Zealand Public and Various Entities, New Zealand (0.84%)
Various overseas persons (0.09%)
VendorWhare Roto Orchard Limited
New Zealand (100%)
Background

The Applicant, an established apple grower in New Zealand, intends to acquire the leasehold land in Havelock North.  The Land is currently used for cropping and the Applicant intends to develop the Land into an apple orchard to plant and grow apples in the Jazz, Envy and Lady in Red varieties.

The benefits that are likely to result from the Investment include job creation and an increase of export receipts. These benefits relate to factors of high relative importance under the current Ministerial Directive Letter.

The investment will also increase productivity on the Land and additional royalties for Plant and Food Research (a Crown Research Institute).

We are satisfied that the benefits from the investment are substantial and identifiable.

More informationJoe Windmeyer
Russell McVeagh
PO Box 8
AUCKLAND