Australian government approves New Plymouth's Van Diemen's Land sale

Tue, 23 Feb 2016

By Edwin Mitson Feb. 23 (BusinessDesk) - The body which oversees the sale of Australian assets to foreign investors, the Australian Foreign Investment Review Board, has approved the sale of Van Diemen's Land Co in Tasmania by New Plymouth District Council's Perpetual Investment Fund. The sale, worth A$280 million, is to Australian company Moon Lake Investments, set up by Chinese businessman Lu Xianfeng. The deal in November 2015 became embroiled in controversy because the fund pulled out of an agreement to sell the farms for A$250 million...

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