INDEPENDENT NEWS

Ministers turn down Natural Dairy application

Published: Wed 22 Dec 2010 07:17 PM
Hon Maurice Williamson
Minister for Land Information
Hon Kate Wilkinson
Acting for the Minister of Finance
Ministers turn down Natural Dairy application to buy Crafar farms
Hon Maurice Williamson and Hon Kate Wilkinson have today declined consent to Natural Dairy (NZ) Holdings Limited to acquire the Crafar farms.
The Ministers’ decision covers the applications by Natural Dairy (NZ) Holdings Limited to acquire UBNZ Assets Holdings Limited and 16 of the Crafar farms.
The Ministers also declined consent to UBNZ Assets Holdings Limited’s retrospective application to acquire the four Crafar farms it purchased in February 2010.
“We concur with the Overseas Investment Office’s recommendation that consent should be declined,” the Ministers said.
“We will not be commenting further on our decision.”
Enquiries relating to the Ministers’ decision should be directed to the Overseas Investment Office.
ends

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