Lochinver Station sold to NZ farming group, Rimanui Farms, after Pengxin sale blocked

Thu, 05 Nov 2015

By Jonathan Underhill Nov. 5 (BusinessDesk) - Lochinver Station, the 13,843 hectare sheep and beef station near Taupo that China's Shanghai Pengxin was prevented from buying, has sold to a New Zealand farming group, Rimanui Farms. No price was disclosed. Shanghai Pengxin had agreed to pay $88 million for the property, adding to an existing portfolio that includes the former Crafar farms. That sale had been approved by the Overseas Investment Office only to be vetoed by the government. Mike Bayley, managing director of Bayleys Real Esta...

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