Posts tagged "OIO"

Overseas Investment Office says yes to Westland sale by Yili

(16 July/Stuff) The Overseas Investment Office is allowing Yili Group to carry out the purchase of Westland Milk Products. 94 percent of farmers had already voted in favour of the $558 million offer but the purchase had to receive OIO consent as the value of the assets and land was over $100 million. Yili is...

Foreign forestry deal promises to support ‘billion trees’ plan

[5 August/Stuff] According to the Overseas Investment Office, a forest sale to overseas investment company New Forests was likely to advance the Government’s plan to plant one billion trees over 10 years. New Forests intended to prune more of the trees, increasing the likelihood the wood would be supplied to domestic processors. New Forests Associate...

Overseas Investment Office rejects Craigmore application to buy orchard

[1 June/Stuff] Craigmore Permanent Crop Limited Partnership Chief Executive, Che Charteris, said its application had been caught up in Government changes to foreign land ownership in light of its rebuff from the Overseas Investment Office to its application to buy a kiwifruit and avocado orchard. He added every government had the right to set new...

OIO take over forestry registration

[7 March/Radio NZ] Forestry Registration rights will be controlled by the Overseas Investment Office. Cabinet agreed to streamline the application process used by the OIO as some forest owners had complained that tortuous proceedings made it hard for overseas forestry companies to invest in New Zealand. The new application path would apply to cutting-rights for...

Overseas Investment Office investigates PGG Wrightson owner Agria’s ‘good character’

[11 January/ NZ Farmer] The OIO has confirmed that it is investigating whether Agria, the 50.22% owner of PGG Wrightson, is off good character given its delisting by the New York Stock Exchange, the company’s public statements that it had received subpoenas from the US Securities and Exchange Commission and allegations made against the company...

OIO approval of deal now a sensitive issue

[30 March/ Otago Daily Times] Scott Technology shareholders have become frustrated at the amount of time it is taking the Overseas Investment Office (OIO) to allow JBS to take a controlling stake in the engineering manufacturing company. OIO regulations meant the application was subject to ‘sensitive land’ status as the Kaikorai Steam ran through one...