Taurus Forest Holdings Buys $1.25 Billion Stake In Matariki Forestry
Taurus Forest Holdings Limited (Singapore 99%, US 1%) received OIO consent to acquire 100% of Rayonier Canterbury LLC and Rayonier New Zealand Limited in a transaction valued at NZ$1.25 billion ($US710m). The vendors were Rayonier Operating Company LLC and Rayonier TRS Holdings Inc (US 68%, Norway 8%, UK 7%, Canada 3%, Switzerland 2%, Various 12%).
Taurus gains indirect control of 77% of the Matariki Forestry Group, covering 154,552 hectares across five regions, with 47% freehold, 23% Crown forestry licences, and 30% forestry rights. The company is controlled by the Rohatyn Group, with majority ownership via GIC Private Limited, Singapore’s sovereign wealth fund. Consent was granted under the Special Forestry Test, with the Minister of Finance ruling the investment “not contrary to the national interest”.
While the investment maintains production forestry, the sheer scale of land consolidation raises questions about foreign influence over strategic natural resources. Offshore control may prioritise financial returns over local employment, environmental stewardship, or regional development needs. The massive footprint, spanning multiple districts, reduces transparency for local communities and may limit domestic opportunities for smaller forestry operators. The Special Forestry Test allows large transactions with minimal public scrutiny, highlighting a tension between economic growth and national control of natural resources.
See also: March 2025: Craigmore affiliate acquired 804 ha in Omakere (OIO Decision, March 2025), July 2022; Craigmore-affiliated entity bought 1,300 ha near Taihape (OIO Decision, July 2022), November 2021; Craigmore purchased 1,058 ha in Central Hawke’s Bay (OIO Decision, November 2021).
Pro-Invest Parallel Fund Buys Majority Stake In NZ Hotel Vehicle
Mourant Trustees (Cayman) Limited, as trustee of the Pro-invest ANZ Hotels Parallel Fund, received OIO consent to acquire approximately 80.6% of Pro-invest NZ Hospitality Fund Ltd, valued at $117.5 million. Ownership of the fund is Asia 35%, United Arab Emirates (UAE) 19%, Singapore 17%, Cayman Islands 7%, South Korea 5%, North America 2%, Various 15%. The vendors were Pro-Invest Australian Opportunities Offshore Feeder Fund LP and Pro-Invest Australian Hospitality Asset One (Cayman Islands 100%).
The fund develops and operates hotels and commercial properties, including indirect interests in Holiday Inn Express & Suites Queenstown, and is ultimately controlled by Singapore-based Aquilius Investment Partners Pte Ltd. Consent was granted under the Significant Business Assets pathway, with the Minister of Finance concluding the investment was not contrary to New Zealand’s national interest.
While the investment supports the tourism sector, this may raise issues regarding foreign control of hospitality infrastructure, potential influence over pricing and market access, and the use of offshore financial structures (Cayman/Singapore) that can obscure ownership and reduce transparency. Consolidation of hotel assets by overseas investors could also limit opportunities for domestic operators and may reduce community input on strategic tourism developments.
See also: June 2025: Taurus Forest Holdings’ $1.25 b forestry acquisition (OIO Decision, June 2025), November 2021: Singaporean investors bought a portfolio of Quest hotels (OIO Decision, November 2021).
Q Logistics (ADQ Subsidiary) Gains Full Control Of Aramex NZ Assets
Q Logistics Holding LLC (UAE 100%), an indirect subsidiary of Abu Dhabi Development Holding Company (ADQ), received OIO consent to acquire up to 100% of Aramex PJSC shares not already held by Abu Dhabi Ports Company PJSC, covering NZ assets valued at $156.8 million. Vendor ownership was UAE 57%, France 28%, Middle East 8%, and Various 7%. Aramex operates courier and transportation services across New Zealand via subsidiaries. Consent was granted under Sensitive Land – Residential Land Development (non-residential use) and Significant Business Assets pathways. A national interest assessment was required due to the foreign Government link; the Minister of Finance concluded the investment was not contrary to New Zealand’s national interest.
The consolidation of courier infrastructure under a UAE sovereign investor may raise strategic supply chain considerations, including national resilience in logistics and potential prioritisation of overseas objectives over domestic needs. It may also point to reduced transparency because of offshore structures and the growing influence of foreign Government-backed investors in essential services.
See also: June 2025: Taurus Forest Holdings’ $1.25b forestry acquisition (OIO Decision, June 2025); June 2025: Pro-Invest Parallel Fund’s $117.5m hotel investment (OIO Decision, June 2025).
Tribe BidCo (TA Associates) Acquires Clanwilliam’s NZ Health Tech Subsidiaries
Tribe BidCo Limited, ultimately owned by TA Associates (USA), received consent to acquire 100% of Clanwilliam Headquarters Limited. The transaction exceeds $100 million and was assessed under the Significant Business Assets pathway. Vendors were Hugh Steven Wilson as trustee of The Clanwilliam Group Trust (USA 100%). Through this acquisition, Tribe BidCo will control NZ subsidiaries Toniq Limited, Konnect Net Limited, HealthLink Group Limited, and Clanwilliam NZ Limited. Consent was granted after satisfying the investor test, and the Minister of Finance concluded the investment was not contrary to New Zealand’s national interest.
While providing capital and growth opportunities for digital health, foreign private equity control can raise issues around data governance, privacy, and long-term strategic direction. Decisions may increasingly reflect profit-driven objectives over local healthcare priorities. It’s also important to note the concentration of health tech assets under offshore ownership may reduce domestic competition and transparency in a sensitive sector.
See also: June 2025: Q Logistics (ADQ) gains full control of Aramex’s NZ courier assets (OIO Decision, June 2025); June 2025: Taurus Forest Holdings’ $1.25b forestry acquisition (OIO Decision, June 2025).
ANZLAFF NZ Limited Acquires 3,182 Hectares Of Otago And Southland Forestry
ANZLAFF NZ Limited, (Germany 64%, Australia 21%, Sweden 10%, Various 5%) owned by 14 overseas institutional investors and managed by New Forests Asset Management Pty Limited, has received OIO consent to acquire freehold interests in approximately 3,182.03 hectares of land across Otago and Southland. The vendors were multiple New Zealand forestry entities, including NZP Forestry Limited Partnership, All In Forestry Limited, Harbour View Forest Limited Partnership, Katea Limited Partnership, Longview Farm (Otago) Limited, NZ Timber No.1 Limited Partnership, and Treebilly Holdings Limited.
The land comprises nine forestry estates, with a total productive area of approximately 2,651 hectares, primarily planted with Pinus radiata and a smaller portion of Douglas fir. The applicant intends to continue production forestry, with harvesting planned for 2053. The estates were marketed as a joint sale by the vendors, who share some common investors and utilise the same forest manager. Consent was granted under the Special Forestry Test (one-off) pathway, and the applicant satisfied the investor test and special forestry test criteria. A national interest assessment was not required, as ANZLAFF NZ Limited is exempt from the definition of a non-New Zealand Government investor, being a wholly owned subsidiary of the Exemption Holder.
While the acquisition ensures long-term management and professional oversight of these forestry assets, the consolidation of large tracts under overseas institutional control raises several issues. Decision-making may increasingly reflect the priorities of foreign investors rather than local environmental, economic, or community interests. The long harvesting horizon (2053) reduces flexibility for responding to climate change impacts, biosecurity threats, or shifts in domestic timber demand. Additionally, market concentration may limit opportunities for smaller domestic forestry operators and reduce local transparency and accountability. These factors highlight ongoing debates around balancing foreign investment, sustainable forestry practices, and national interest in New Zealand.
See also: June 2025: Taurus Forest Holdings’ $1.25b acquisition of Matariki Forestry (OIO Decision, June 2025); June 2025: Q Logistics (ADQ) acquisition of Aramex NZ assets (OIO Decision, June 2025).
KT1 Co Limited Acquires Te Waihou Plantations And 9,200 Hectares of Central North Island Forestry
KT1 Co Limited (Canada 55%, New Zealand 45%), majority-owned by a Canadian pension fund, has received OIO consent to acquire up to 100% of the issued shares of Te Waihou Plantations Limited, giving indirect control of approximately 9,200 hectares of sensitive land in the central North Island. The vendor is Te Waihou Holdings Limited, with ownership and consideration withheld under section 9(2)(b)(ii) of the Official Information Act 1982.
The land includes commercial forestry estates with a total productive area of approximately 8,200 hectares, predominantly planted with Pinus radiata. The applicant intends to continue production forestry, maintaining existing operations. Consent was granted under the Special Forestry Test (one-off) and Significant Business Assets pathways. The application underwent a national interest assessment because KT1 is a non-New Zealand Government investor, with the Minister of Finance concluding that the investment is not contrary to New Zealand’s national interest. The applicant satisfied both the investor test and the special forestry test criteria.
Although the acquisition ensures professional management of productive forestry, foreign ownership of large tracts of sensitive land may raise issues regarding local influence over land use, environmental stewardship, and strategic decision-making. The scale of the estates consolidates forestry assets under a single foreign pension fund, which could reduce market diversity and limit opportunities for smaller domestic operators. Long-term harvesting plans and investment priorities may prioritise financial returns over local economic, community, or ecological interests. These factors underscore the tension between foreign investment, national interest, and sustainable forestry management in New Zealand.
See also: June 2025: ANZLAFF NZ Limited forestry acquisition (OIO Decision, June 2025); June 2025: Taurus Forest Holdings’ NZ$1.25 b Matariki Forestry acquisition (OIO Decision, June 2025).
Standing Consent Granted For Residential Land Development By Arvida Limited
Arvida Limited (Asia 43%, Middle East 38%, North America 13%, Various 6%) has received Overseas Investment Office consent under sections 12(a) and 23A of the Overseas Investment Act 2005. The standing consent permits Arvida and its wholly owned subsidiaries to acquire up to 450 hectares of residential (but not otherwise sensitive) freehold land across New Zealand by 31 May 2028. The land may be used for up to 15 residential developments. The Applicant is a retirement village operator with 36 retirement communities in New Zealand, ultimately owned by the Stonepeak Asia Infrastructure Fund, managed by New York-based investment firm Stonepeak Partners LP. Land acquired under this consent must be developed into new residential dwellings as part of retirement village projects.
Non-residential use supporting these developments is also permitted. The Applicant and associates are prohibited from occupying land acquired under this standing consent. The vendor for specific acquisitions is not yet determined. While framed as contributing to New Zealand’s aged care and housing supply, this decision gives foreign-controlled private equity a wide and pre-approved path to consolidate control over residential land – with no public accountability around affordability, labour conditions, or land concentration in a critical sector. See also: October 2023: “Private Equity And Retirement Village Expansion”; 2024: “Overseas Investment And New Zealand Housing Supply”; March 2025: “Standing Consents In Residential Development”.
Tasman Tourism New Zealand Limited Acquires Wanaka Holiday Park
Tasman Tourism New Zealand Limited (UAE 90%, Australia 10%), a joint venture between a UAE-based investment company and an Australian private equity firm with experience in holiday parks, has received OIO consent to acquire a freehold interest of approximately three hectares at 261-263 Studholme Road, Wanaka, the site of Wanaka Top 10 Holiday Park. The vendors were Wanaka Top 10 Holiday Park (2020) Limited and Andrea and Andrew Kendrick (NZ 100%). The applicant operates holiday parks in New Zealand under the Tasman Holiday Parks brand and intends to maintain the current short-term accommodation use for domestic and international tourists.
Consent was granted under the Sensitive Land – Residential Land Development (More than one purpose – One-off purchase) pathway. The applicant satisfied the investor test, and the Minister of Finance determined that the investment is likely to meet the incidental residential use and non-residential use tests. While the acquisition ensures continued operation of the holiday park, foreign ownership of strategic tourism land may raise concerns regarding local input on land use, pricing, and development.
There is potential for profit-driven management decisions to override community interests, particularly in a popular tourist destination like Wanaka. This may also note the consolidation of tourism infrastructure under offshore private equity structures, which could influence regional tourism strategies and limit opportunities for smaller, locally owned operators.
See also: June 2025: Pro-invest Parallel Fund’s acquisition of NZ hotels (OIO Decision, June 2025); June 2025: Logistics (ADQ) acquisition of Aramex NZ assets (OIO Decision, June 2025).
ANZLAFF NZ Limited Acquires 641 Hectares Of Waipahi Forestry
ANZLAFF NZ Limited (Germany 64%, Australia 21%, Sweden 10%, Various 5%), owned by 14 overseas institutional investors and managed by New Forests Asset Management Pty Limited, has received OIO consent to acquire a freehold interest of approximately 641.1 hectares of forestry land at 273 Cameron Road, Waipahi, Gore. The vendor is JEB Farming Limited (New Zealand 100%). Companies managed by New Forests Asset Management Pty Limited have previously made several forestry investments in New Zealand.
The land includes approximately 548 hectares of productive forestry, primarily Pinus radiata with smaller areas of Cupressus macrocarpa and Eucalyptus. The applicant plans to continue production forestry, with harvesting scheduled for 2053. Consent was granted under the Special Forestry Test (one-off) pathway. The applicant satisfied the investor test and special forestry test criteria. A national interest assessment was not required, as ANZLAFF NZ Limited is exempt from the definition of a non-New Zealand government investor, being a wholly owned subsidiary of the Exemption Holder.
Although the acquisition ensures professional long-term management of the forestry assets, the consolidation of land under foreign institutional investors raises issues about local influence over land use and environmental stewardship. The long-term harvesting horizon reduces flexibility to respond to climate change, biosecurity threats, or shifts in domestic timber demand. Concentration of ownership may also limit opportunities for smaller domestic forestry operators and reduce transparency for the communities surrounding the estates. These factors highlight ongoing debates around balancing foreign investment, national interest, and sustainable forestry management in New Zealand.
See also: June 2025: ANZLAFF NZ Limited acquisition of 3,182 hectares in Otago and Southland (OIO Decision, June 2025); June 2025: Taurus Forest Holdings’ NZ$1.25 b Matariki Forestry acquisition (OIO Decision, June 2025).
Roc Apple PropCo Pty Ltd Acquires Hawkes Bay Apple Orchards
Roc Apple PropCo Pty Ltd(Australia 100%), an Australian private equity fund specialising in agricultural investments, has received OIO consent to acquire two apple orchards in Hawkes Bay. The transaction, valued at $7,555,000, covers 24 hectares at 24 Tennant Road/228 Tuki Tuki Road, Haumoana (Watties Orchard) and 25 hectares at 45 Longlands Road West, Longlands, Hastings (Longlands Orchard). The vendors were Ash Trustee Company Limited and Carl Tyler & Marianne Jane Knapp as trustees of the M and C Knapp Family Trust (NZ 100%), and Bruce James Wattie (NZ 100%).
The applicant has partnered with ENZAFruit New Zealand International Limited, a wholly owned subsidiary of T&G Global Limited, to lease the orchards for redevelopment. ENZAFruit plans to replant older varieties with Envy and/or Joli apples, enhancing productivity and quality. Consent was granted under the Sensitive Land – Farm Land Benefit Test, with the Minister of Finance determining the investment is likely to benefit New Zealand, and the applicant satisfying the investor test. Anticipated benefits include capital expenditure of NZ$17.7 million, higher orchard productivity, and increased export receipts.
While the project promises economic and productivity gains, this may highlight potential risks associated with foreign ownership of productive farmland, including reduced local control over strategic agricultural assets. The leasing arrangement means long-term decision-making for the orchards will be influenced by an overseas private equity fund, which could prioritise financial returns over community interests or sustainable farming practices. Additionally, dependence on a single corporate partner (ENZAFruit/T&G Global) may concentrate risk, potentially reducing resilience if market conditions or export demand fluctuate.
See also: June 2025: ANZLAFF NZ Limited forestry acquisition (OIO Decision, June 2025); June 2025: Taurus Forest Holdings’ NZ$1.25 b Matariki Forestry acquisition (OIO Decision, June 2025).
T&G Global Limited Leases Hawkes Bay Orchards From Roc Apple PropCo
T&G Global Limited (Germany 74%, Hong Kong 20%, and New Zealand 6%), a New Zealand-incorporated grower, distributor, marketer, and exporter of fresh produce, has received OIO consent to acquire a leasehold interest in two Hawkes Bay apple orchards. The leased properties cover 24 hectares at 24 Tennant Road/228 Tuki Tuki Road, Haumoana (Watties Orchard) and 25 hectares at 45 Longlands Road West, Longlands, Hastings (Longlands Orchard). The vendor is Roc Apple PropCo Pty Ltd (Australia 100%), which purchased the freehold interests in these orchards.
The orchards will be redeveloped by ENZAFruit New Zealand International Limited, a wholly owned subsidiary of T&G Global. Older apple varieties will be replaced with Envy and/or Joli apples, with projected capital expenditure of $17.7 million, increased productivity, and higher export receipts. Consent was granted under the Sensitive Land – Farm Land Benefit Test, with the Minister of Finance concluding the investment is likely to benefit New Zealand, and the applicant satisfying the investor test.
While the lease arrangement ensures domestic management and operational control, the transaction still involves foreign ownership of the underlying land through Roc Apple PropCo. Long-term strategic decisions for orchard redevelopment could be influenced by overseas investors’ financial priorities, rather than local or environmental considerations. Reliance on a single corporate partnership for both ownership (Roc Apple) and operation (ENZAFruit/T&G Global) may also concentrate risk and reduce flexibility if market or climatic conditions change. Additionally, foreign involvement in sensitive agricultural land can raise public scrutiny and community concern, particularly in high-value horticultural regions like Hawkes Bay.
See also: June 2025: Roc Apple PropCo Pty Ltd acquisition of Hawkes Bay orchards (OIO Decision, June 2025); June 2025: ANZLAFF NZ Limited forestry acquisition (OIO Decision, June 2025).
PM Nominees C Pty Ltd Acquires AVJennings Limited And Auckland Residential Land
PM Nominees C Pty Ltd (Middle East 77%, North America 19%, Various 4%) controlled by AVID Property Group and ultimately managed by funds advised by Proprium Capital Partners, LP, has received OIO consent to acquire up to 100% of the shares in AVJennings Limited, valued at $395,900,000. The acquisition gives the applicant indirect control of approximately 71 hectares of sensitive land in Wainui, Auckland, currently being developed into around 575 residential lots. Vendors include AV-Jennings Limited (Asia Pacific 68%, Australia 23%, Various 9%).
Consent was granted under the Sensitive Land – Benefit Test and Significant Business Assets pathways. The applicant satisfied the investor test, and the Minister of Finance determined that the investment is likely to benefit New Zealand and is not contrary to national interest. Expected benefits include increased capital expenditure, accelerated housing supply, job retention, and alignment with government housing policy objectives.
While the investment supports housing development, the involvement of foreign-controlled private equity funds in residential land can raise issues about local control, affordability, and planning influence. Large-scale acquisitions by offshore investors may prioritise financial returns over community or urban planning priorities, potentially affecting local housing affordability. Concentration of sensitive land in foreign hands could also limit opportunities for smaller, domestic developers and reduce local oversight of strategic urban development. These factors illustrate the ongoing tension between foreign investment, housing policy goals, and community interests in New Zealand.
See also: June 2025: Tasman Tourism NZ Limited acquisition of Wanaka Holiday Park (OIO Decision, June 2025); June 2025: Q Logistics (ADQ) acquisition of Aramex NZ assets (OIO Decision, June 2025).