OIO approves Dairy Farms NZ's $47 mln purchase of 5 Southland farms

Fri, 29 Jan 2016

By Fiona Rotherham Jan. 29 (BusinessDesk) - Dairy Farms NZ has cleared Overseas Investment Office approval for the $47 million purchase of five central Southland dairy farms ahead of a further capital-raising and eventual listing on the New Zealand sharemarket. Dairy Farms NZ chairman David Belcher said despite the current downturn in global dairy milk prices, it was a long-term investor and prepared to wait out the cycle moving up again. The company was set up in 2014 to provide New Zealand investors the opportunity to directly invest...

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