The Chinese Government-backed Shanghai Pengxin bid for the 16 Crafar farms has been approved.
Land Information Minster maurice Williamson and Associate Finance Minister Jonathan Coleman today announced that they have accepted the recommendation of the Overseas investment Office to accept the bid from Pengxin.
In a release just published, the ministers said that it was clear that all criteria under sections 16 and 18 of the Overseas Investment Act were met.
"We are satisfied that Milk New Zealand's application for consent meets the criteria set out in the Act," said Coleman.
The approval follows the receivers, KordaMentha's acceptance in late 2010 of Milk New Zealand's bid for the farms.
"Milk New Zealand's acquisition will further support the supply of high quality dairy products into the Chinese market and help set the foundations for further economic and export opportunities with China," said the Government.
"Stringent conditions policed by the OIO will ensure that Milk New Zealand's investment delivers substantial and identifiable benefits to New Zealand."
"These include investing more than $14m into the farms making them more economically and environmentally sustainable; protecting the Nga Herenga and the Te Ruaki pa sites and improving walking access to the Pureora Forest Park and Te Rere falls. An on-farm training facility for dairy farm workers will also be established."
It hasn't been a good week for the left-leaning blogs. Firstly, Ernst and Young exposed the misinformation that MUNZ has tried to spread. Then the Auckland council got rid of the Occupy protesters, and Penny Bright paid a visit to the cells. And now there's this.
As we said earlier, if you have sensitive eyes and ears, you might wish to take precautions. The Left is about to shriek in indignation again, aided and abetted by Winston Peters, the Clown Prince of Xenophobia.
And in the meantime, someone might like to ask David Shearer why it was ok for the previous government to sell 650,000 hectares of New Zealand land (the Crafar sale involves 8000 hectares) to purchasers from a variety of nationalities, but why the Chinese purchasers of the Crafar farms are unwelcome. We'd love to hear his answer.
UPDATE: This graphic from DPF shows the relationship of the land which comprises the 16 Crafar farms compared to the land which was sold during the time of the Clark administration.
Do you still want to go down the "tenants in our own land" road Mr Shearer?
6 comments:
I just looked at the report.
The OIA process is a box ticking exercise.
If all boxes are ticked then consent must be granted.
If it were not then the responsible ministers would themselves be judicially reviewed by the intending purchasers.
I am uncertain apart from Politcial leverage how issuing judical review proceedings before a decision is made will work. Mind you Alan Galbraith QC is one of the best legal minds in the country so he will have come up with something.
The correct decision has been made.
The thing that appals me re the shrills against the sale is that they give no consideration to the creditors of Crafar Farms. They deserve the best price even if it is Westpac.
A good, sensible decision. The lefties and the zenophobes including Winston Peters can go and get stuffed.
Even with the huge success of the China free trade agreement, I saw bloody Winston on TV last night still railing against it. Moron. And he is the first to bang on about an export lead economy. Double moron.
I note some relevant facts here which support this being the right decision
http://adamsmith.wordpress.com/2012/01/27/crafar-farms-some-facts-1/
Facts Adam? Facts? Since when has either the Labour Party or Winston Peters ever been constrained by facts?
I2 some more facts from OIO website, net sales in last 2 years to nasty foreigners 77,500 not the 357,000 quoted by NZ Herald
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