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Overseas bid to buy land rejected By Heather Chalmers
heather.c@theguardian.co.nz
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The rejection of the sale of Mid and South Canterbury dairy and dairy support farms to an overseas buyer has been welcomed by Federated Farmers’ Mid Canterbury president David Clark, who says the move will provide more opportunity for individuals to buy farms. The Canadian bid to buy more than 4500 hectares of South Island farmland, including 1000ha near Ashburton, was rejected by the Overseas Investment Office.
“I certainly wasn’t aware that these farms were for sale and most other farmers weren’t either,” Clark said. “Whether they are selling all of the shares, or just a controlling interest, it’s still a big chunk of land being sold offshore and I welcome the decision.” The OIO ruled Mercury Agriculture Ltd Partnership, 92 per cent owned by Canadian interests, could not buy the land because it was “not in New Zealand’s interests”. Mercury had applied to buy up to a 68.3 per cent interest in Rangitata Dairies Limited Partnership and Rangitata
GP Ltd, which owns 1900ha at Rangitata, 1000ha near Ashburton, 212ha near Temuka, and 816ha near Cromwell. It also had leasehold blocks including 492ha near Ashburton. The 4500ha block offered for sale was the amalgamation of many small farms, Clark said. “In the hey-day of the dairy boom, this syndicate and many others like it, had the biggest chequebooks in town. They outbid a lot of local farmers
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