Section 12(a) Overseas Investment Act 2005
|Decision Maker||Overseas Investment Office|
|Decision Date||28 August 2019|
|Investment||An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in 9.6 hectares of land at 162 Tuki Tuki Road Haumoana Hawke’s Bay.|
|Consideration||Withheld under s9(2)(b)(ii) of the Official Information Act|
|Applicant||T&G Global Limited|
Federal Republic of Germany, Germany (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%)
|Vendor||F J Moughan & Sons Limited (Lessor)|
New Zealand (100%)
The Applicant, an established apple grower in New Zealand, intends to acquire the leasehold land in Haumoana, Hawke’s Bay. The Land is currently planted in other apple varieties and the Applicant intends to develop the Land to plant and grow apples in the Jazz, and Envy varieties using the 2D planting system.
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 information||Joe Windmeyer|
PO Box 8