DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Section 13(1)(a) Overseas Investment Act 2005
Decision MakerOverseas Investment Office
Decision Date15 September 2021
Pathway(s)Residential land development (Non-residential use - one-off purchase) and significant business assets
Investment

An overseas investment in significant business assets, being the Applicant's acquisition of two Crown Forestry Licences, the consideration of which exceeds $100m. 

An overseas investment in sensitive land, being the acquisition of a freehold interest in approximately 1 hectare of freehold residential (but not otherwise sensitive) used for forestry access. 

Asset ValueWithheld under s9(2)(b)(ii) of the Official Information Act 1982
ApplicantSummit Forests New Zealand Limited
Japan (100.00%)
VendorErnslaw One Limited
Malaysia (91%)
Singapore (9%)
Background

The Applicant is one of the largest commercial forest owners in New Zealand and is acquiring the investment to add to its forestry assets in NZ. The only sensitive land involved in this investment is 1 ha. of residential land, which will be used for non-residential purposes, being an access route to the existing forestry estate. 

The Applicant currently holds leasehold and freehold interests in land in NZ to use for forestry purposes as well as Crown Forestry Licences. It holds these interests in land for log export and domestic supply. The Applicant also provides forestry and harvesting management services in NZ.

More informationMr Kenji Okawa
Summit Forests New Zealand Limited
Level 10, 57 Fort Street
Auckland Central 1010