Shanghai Pengxin unit ends attempt to buy Northland farms, citing 5 months of silence from OIO, Lochinver rejection

Sun, 11 Oct 2015

By Jonathan Underhill Oct. 12 (BusinessDesk) - Dakang New Zealand Farm Group, which is 55 percent owned by Shanghai Pengxin, has quit efforts to buy 10 farms in Northland, citing five months of silence from the Overseas Investment Office since it applied for clearance and its experience trying to buy Lochinver Station, which was scuttled by the government. Dakang entered into a sale and purchase agreement to buy seven dairy and three support farms in Northland from Pinny Farms, the region's largest milk supplier. Dakang applied to the OIO...

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