Shanghai Pengxin withdraws judicial review of Lochinver rejection

Thu, 31 Mar 2016

By Tina Morrison April 1 (BusinessDesk) - Chinese agricultural investor Shanghai Pengxin has withdrawn its judicial review of the government’s decision to decline its application to purchase the Lochinver sheep and beef station near Taupo, despite "a great deal of confusion" about the regulatory process. The company had wanted to test the Overseas Investment Office's use of a hypothetical alternative New Zealand purchaser when assessing its offer. However, the process was a distraction as well as a significant expense and it wanted "to de...

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