Hungarian Billionaire Buys Into Forestry
This one was chosen by default. The OIO only made two Decisions this month (by contrast it made 11 in January 2024) and one of them was suppressed in its entirety. We’re left with this: The OIO approved György Sándor Dunai (Hungary 100%) buying a freehold interest in approximately 241 hectares of land (subject to survey) located at 4388 Puketitiri Road, Puketitiri, Napier, from Barry Raymond Grattan, Diana Shirley Grattan and Graham Brown & Co Trustees Limited as trustees of the Surrey Fields Trust (New Zealand 100%). The price paid was suppressed.
The OIO said: “The Applicant is the sole investor and this is his first application under the Act. The land is approximately 241 hectares currently used for forestry purposes. The total productive area of land is approximately 208 hectares which is planted almost exclusively with pinus radiata trees. The Applicant plans to continue using the land for forestry. Consent was granted as the Applicant has met the investor test criterion and the special forestry test criteria”.
From Atlatszo (21/4/22) “György Sándor Dunai, Hungary’s 44th richest man according to Forbes. Dunai, with an estimated fortune of €36.5 billion, is best known for EuroAszfalt, but he also has tourism interests such as the Thermal Hotel Visegrád and Bodri Winery”. The article was about how a winery 40% owned by Dunai is popular with MPs from Hungary’s ruling Fidesz Party and has received billions in subsidies from both the Government and in the form of European Union subsidies.
The only other January Decision (suppressed) is here
To quote the OIO: “The information has been withheld under s(9)(2)(b)(ii) of the Official Information Act as the Decision relates to a public markets’ transaction that has yet to be announced”.