Bennett denies scuttling of Lochinver sale was political; decision raises questions for future OIO rulings

Thu, 17 Sep 2015

By Paul McBeth and Jonathan Underhill Sept. 17 (BusinessDesk) - Associate Finance Minister Paula Bennett says the government's decision to reject the Overseas Investment Office's recommendation on the sale of Lochinver Station to Shanghai Pengxin wasn't political and ultimately she wasn't convinced the deal provided enough benefit to New Zealand. The OIO had recommended to Bennett and Land Information Minister Louise Upston that the $88 million sale met the requirements for sales of sensitive land to foreigners and included improvements s...

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