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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.