Written By: notices and features - Date published: 11:58 am, April 20th, 2012 - 107 comments
Categories: capitalism, farming, International, national, overseas investment - Tags: china, crafar farms, sold out
As expected, the Nats kept on pushing until they got the answer that they wanted. A bit more of NZ is sold out:
Crafar China sale gets green light
Chinese firm Shanghai Pengxin’s controversial bid to buy 16 central North Island dairy farms has been approved by Land Information Minister Maurice Williamson and Associate Finance Minister Jonathan Coleman.
The ministers approved the Overseas Investment Office’s new recommendation to let holding company Milk New Zealand buy the Crafar family farms, after a High Court judgment sent it back to the bureaucrats in February. Williamson said the OIO sought advice from Crown Law and independent advice from David Goddard QC in making its recommendation.
“We are satisfied that on even the most conservative approach this application meets the criteria set out in the act and is consistent with the High Court’s judgment,” Williamson said in a statement.