iPredict: Crafar Farms sale to Pengxin on Friday
The government is expected to announce the sale of Crafar farms on Friday, according to online predictions market iPredict.
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The government is expected to announce the sale of Crafar farms on Friday, according to online predictions market iPredict.
It predicts Land Information Minister Maurice Williamson and Associate Finance Minister Jonathan Coleman will have approved the sale of the 16 farms to Milk New Zealand Holding, a wholly owned subsidiary of Shanghai Pengxin Group Co.
The sale is expected to go unconditional by the end of next week.
That is the current reading of the situation by the 6500 registered traders on New Zealand’s online predictions market, iPredict.
They believe there is a 66% probability the ministers’ decision will be announced on Friday, a 74% probability the decision will allow the Chinese owners to achieve fee simple title over the properties ,and a 55% probability the sale will go unconditional by Saturday, April 28.
The Crafar Farms properties are in the Hawke’s Bay and Taupo regions.
They have a total area of almost 10,000ha and were placed into receivership in 2009.
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iPredict: Crafar Farms sale to Pengxin on Friday
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