Landcorp goes with back-up offer in Jericho Station sale after Chinese buyer withdraws

Landcorp goes with back-up offer in Jericho Station sale after Chinese buyer withdraws
Paul McBeth
By Paul McBeth April 10 (BusinessDesk) - Landcorp Farming, the state-owned farmer trading as Pāmu Farms of New Zealand, has gone with a back-up bidder for its Jericho Station sheep and beef farm in Fiordland after the preferred foreign buyer withdrew.  Wellington-based Landcorp expects the new purchaser will complete the transaction in early June, spokesman Simon King said in an emailed statement. Southland farmer Ed Pinckney was pipped by an $8.7 million offer from Chinese buyer Qianlong Farms when the 1,400-hectare farm was put to marke...