The receivers for the Crafar farms are still taking offers on the properties despite a conditional agreement to sell 16 of them to UBNZ Funds Management, the New Zealand company partly owned by Hong Kong listed Natural Dairy NZ Holdings.
KordaMentha is controlling the sale of 20 properties previously owned by the Crafar family, and has agreed to sell 16 as a bloc on the condition the Overseas Investment Office approves the sale.
But receiver Michael Stiassny says provisional agreement doesn’t mean counter offers aren’t on the table.
The international tender process closes on June 23rd.
The tentative deal has Federated Farmers worried it could be the start of New Zealand’s dairy wealth heading overseas.
Feds dairy spokesperson Lachlan McKenzie says Natural Dairy’s plan for a vertically integrated system in New Zealand is bad news for the economy.
