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Crafar Farms Sale approved

by Whaleoil on April 20, 2012

ᔥ Stuff.co.nz

The government has approved the sale of the Westpac Farms formerly owned by the Crafar Family to Shanghai Pengxin. It looks like Coleman found his testicles after all:

Land Information Minister Maurice Williamson and Associate Finance Minister Jonathan Coleman this morning announced they had approved the new recommendation of the Overseas Investment Office (OIO) to grant consent to the Chinese-owned Milk New Zealand Holding Limited to acquire the 16 Crafar farms.

Fay said the decision was “wrong” and not good for the economy.

“It shows the Government has no commitment to the people who live and work in the rural sector. Sixteen dairy farms – an area the size of Hamilton – and a minimum $20 million per year of Fonterra milk payouts are lost to the Central North Island economy for good.

On the flip side, a Chinese official says Kiwis should “be happy” that foreigners want to buy land and invest here.

Good stuff…I imagine Fay will now spit the dummy and try and sue again so he can get a cheap deal.

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  • Timandtim

    As long as one of the recommendations was that writing on the milk carton is still in English so I dOnt have to second guess at the supermarket I don’t give a dam

  • JC

    I expect Labour/Greens/Winston will soon present a bill to the House on a “White NZ Policy”. As uber leftist John Moore shows:

    http://liberation.typepad.com/liberation/2012/02/guest-blog-post-john-moore-leftwing-xenophobia-in-new-zealand.html

    This would be fully within the long standing Labour/Left tradition.

    JC

    • Gazzaw

      They could reintroduce the polltax. It’s one that they haven’t come up with yet.

  • AuntZinnia

    I don’t know why you right wingers are wetting yourselves about pushing this one through.  In case you haven’t noticed China is a COMMUNIST country.  Welcome comrades.

    • Travdog

      oh god no!!! the communists are taking over!!! cue the paranoia and tinfoil hats….

      Good thing we beat the communists in the vietnam war, they may have continued towards world domination.

    • Gazzaw

      My God! Not the dominoe theory!

    • James Gray

      Certainly couldn’t be the whole property rights thing…

      (In case I have to spell it out, If any person does not have the right to sell their property to the highest bidder, their property rights have been undermined. Just thought I’d explain that for any cerebrally challenged lefties out there…)

  • Landy

    Fay had a cheek to show his face here again.   Powerful political backers, but no ethics.
    He really ripped New Zealand off the last time.  

    I mourn the former healthy BNZ…  I mourn the former healthy NZ Rail…   Both now restored to some health, but after huge cash help from taxpayers and others.

    These two were left in asset-stripped tatters so Fatty Fay could behave very grandly in Switzerland, announcing he was now a Merchant Bank.   Helping him was the S750m he got out of the country from his financial tricks.  

    I noticed the media being very kind to him.   I also noticed the exchange rate staying high just long enough for him to get the cash out of NZ at a very good exchange rate and collapsing weeks after he left.

    What a toad.   No dairy cow deserves FF for an owner.

    • James

      You are fucking kidding about the “former healthy BNZ and NZ Rail” right? The BNZ was a pig….and Rail was bailed out 3 times in its history long before it was sold and removed from the taxpayers back…till clueless Cullen lumped us with the loss making dinosaur again.

      • Landy

         Take a look at the figures paid.   And the state of them at each sale.

  • Macca

    Well done John Key and the Government. Excellent news. Why wouldn’t we sell some of our land to our major trading partner when it is such a small percentage of the land owned by overseas interests. 

    • Pukakidon

       Labour and the Greens dont think it is right.   It is ok selling to an American or Canadian but by god not the dirty Chinese who they fostered a trade agreement with.

      Bloody hypocritical racists.

  • National party deserter.

    China is laughing now. It knew we’d break. Thanks a bunch Key. I voted National last year but won’t bother next time. Quisling fool.

    • Pukakidon

      You have never voted National, you have always been a Labour supporter, because you father voted Labour and you are a sheep who can not think for yourself.   You are part of the 26% oxygen thieves.   Loser

  • Dave

    I’m not happy its sold to overseas interests, but logically, they had no option.   They won the bidding war, there was no other offers close, and we (NZ) had to legal right to decline the offer.

  • James

    I couldn’t care less…..that land and farms were never mine in the first place….

    • Gazzaw

      You are dead right James. At the end of the day it was none of our business. The Crafar farms belonged to a consortium of Aussie banks.

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