Yili’s Westland takeover gets OIO approval
By Victoria Young July 16 (BusinessDesk) - The Overseas Investment Office has approved Inner Mongolia Yili Industrial Group’s purchase of Westland Co-operative Dairy Group, after finding Yili has the relevant business experience and has shown financial commitment. The $588...
Govt won't "die in a ditch" for 100% renewable target
By Victoria Young July 16 (BusinessDesk) - Energy Minister Megan Woods says the government “won’t die in a ditch” if its goal of 100 percent renewable electricity generation isn't reached by 2035. The "challenge" of meeting its ambitious target had been well-signalled, she...
Suspect company faces liquidation after director dies
By Victoria Young July 16 (BusinessDesk) - The registrar for companies has moved to dissolve wealth management company Denton Morrell after its director Matthew Butterfield died. The private wealth company, which specialised in creating trusts and partnerships for clients,...
Foreign investors face maximum penalty for breach after $13M purchase
By Victoria Young July 15 (BusinessDesk) - Overseas investors who paid $13 million for five hectares of land in Auckland have been told to pay $300,000 to the Overseas Investment Office (OIO) and sell the 117-lot development they started within two years. In a decision rel...
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