Media advisory from the Overseas Investment Office
28 January 2011
Some recent media reports suggest that Pengxin Group have filed an application for consent to the Overseas Investment Office (OIO) for their purchase of the Crafar farms.
The OIO has not yet received an application for consent from Pengxin Group. However, it expects to receive the application by 31 March 2011, as reported by some media.
Once an application is received, it will be assessed against the requirements of the Overseas Investment Act 2005. The application will be subject to the new investment rules outlined in the Ministerial Directive Letter that took effect on 13 January 2011.
Media queries: Brad Young, Senior Communications Advisor, ph +64 4 460 0147 or +64 27 277 1267, email media@linz.govt.nz.
Media enquiries: Brad Young, Land Information New Zealand, phone +64 4 460 0147, mobile +64 27 277 1267, email media@linz.govt.nz
