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Landcorp believed back in running for Crafar farms

UPDATED: The overseas investment office has released a statement denying the following story.

State-owned Landcorp is reportedly back in the running to buy the Crafar family farms in the central and lower North Island.

Media reports today suggest the Overseas Investment Office had rejected or suggested significant constraints on a bid for the 20 Crafar farms from Hong Kong-based Natural Dairy.

Chris Kelly, chief executive of Landcorp -- whose bid for the Crafar properties was rejected by receivership firm KordaMentha after tenders closed in July -- declined to comment.

Natural Dairy spokesman Bill Ralston said he understood the company would be making an announcement within 48 hours.

A final decision on the Natural Dairy application will be made by the Government.

More by NZPA and NBR staff

Comments and questions

Is this FAIR-GO?

Isn't this a policy change by the Government where they were targeting potential asset sales rather than purchases??

Why don't the Iwi buy the farms - seems a logical fit and in line with Iwi investment criteria. It also keeps them in NZ and they are safe investments for Iwi.

Anon - why should Iwi buy them when they can just make a treaty claim once owned by the Govt.

Why stop at questioning why the govt is looking to buy. Why do we have a state owned farming company in the first place?

This is great news! It has made my day....GO KIWI!!

Maybe we have to have a state-owned farming company because part of the private sector has made such of pigs ear of a contribution to the NZ economy. In this case, two foreign-owned banks lent irresponsibly to the Crafars causing this whole mess.

If any Iwi buy them they will more than likely end up like the Raglan Golf course, and just revert back to native bush

The way it goes, it look like the FINANCIER may not even get her mortgagee monies back!!!

if you want the farms to revert to tussock and weeds -- give them to Maori to manage.

Not a good luck to block the chinese from buying just so the NZ government can go and buy it for cheaper. We need China a lot more than they need us (hard for NZ to realise that given what a xenophobic country this is).

In the meantime the face of the National Dairy bid is still trying to avoid the courts wrath over bankruptcy

May Wang actually has very little to do with the beneficial ownership and is just an easy target for anti-chinese folks like yourself...

How can I be anti chinese when I am chinese.
She is an embarrasment to us.

This morning's NZ Herald story, which this report is based on, is completely incorrect. The OIO have put out a strong statement saying the Natural Dairy bid is still under active consideration. I have no idea where the Herald gets its information from but, in this case, it is absolutely wrong.

Are today's reporters instigators or fiction story tellers?