Posted by: rivettingkatetaylor | May 28, 2010

Overseas Investment Office should say no

Let’s hope Landcorp does put in a bid for the 16 North Island farms at the centre of controversy over their potential sale to a Chinese-backed investor.

The former Crafar Farms properties  in Waikato, Bay of Plenty, King Country, Wanganui and Taranaki are in the hands of receivers.

Landcorp is apparently doing “due diligence”, although a final decision on whether to submit a tender was still to be made.

AS far as I can tell, the Chinese bid for these properties should not be allowed to go ahead.

It has been widely reported the Chinese business group in question bought four dairy farms earlier this year without the approval of the Overseas Investment Office.

Those sales should be stopped/withdrawn and the company should have to go back to square one. Just like every one else, it should have to go through the correct channels – not fill out the paperwork after it gets caught.

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