31 Mar 2012

OIO makes fresh Crafar farms recommendation

6:01 am on 31 March 2012

The Overseas Investment Office (OIO) has confirmed it has sent a new recommendation to the Government about a Chinese bid to buy the Crafar farms.

In January the High Court ordered the Government to reconsider a bid by the Shanghai Pengxin group to buy the 16 North Island farms, following a judicial review of the OIO decision sought by a New Zealand consortium interested in purchasing the farms.

The latest recommendation was sent to ministers Maurice Williamson and Jonathan Coleman on Thursday evening.

Their office staff have confirmed they have received the recommendation but are not saying when a decision will be announced.

OIO manager Annelies McClure is refusing to say what the recommendation is but says the office provided it to the Government after careful consideration.