Deal reached after corruption probe at Scott Technology owner

Fri, 25 Oct 2019

The Overseas Investment Office has reached a deal with the majority owner of Scott Technology following a corruption investigation. The foreign ownership regulator launched a probe into JBS Australia in 2017, a year after it gained consent to buy just over half of the NZX-listed industrial automation specialist. JBS Australia is a subsidiary of Brazil’s JBS, the largest meat processor in the world. Owners of foreign-owned companies in New Zealand are required to be of “good character” and the regulator has found that two majority shar...

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