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By: Gary Denvir | Latest News | Saturday January 28 2012 6:17
Fonterra may be the big loser in the Crafar Farms deal.
Shanghai Pengxin Group has won approval to buy the farms, with state-owned Landcorp signed up to act as managers.
It's been confirmed the farms will supply milk to Fonterra, although it's thought Pengxin may want to set up its own processing plant in future.
Agri-journalist Richard Rennie says it couldn't be achieved without a local business partner.
He says the regulatory approval includes the condition that Pengxin can't own more than 50% of a processing plant.
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