Tuesday, 20 September 2016 16:07

Shanghai Maling decision ‘sensible’

Written by Rural News Group

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Federated Farmers Meat & Fibre Chair Rick Powdrell.

New Zealand will enjoy benefits from the approval for Shanghai Maling Aquarius to acquire a 50% ownership stake in Silver Fern Farms.

Federated Farmers Meat & Fibre Chair Rick Powdrell says it’s a sensible decision for the country and aligns the company better to service the needs of global markets in a modern world.

"New Zealand farmer-shareholders will continue to own 50% of the cooperative and will enjoy the benefits of access to the growing Chinese market,” says Powdrell.

"This is exactly what the farmer-shareholders wanted, with a majority voting last month for the deal to be approved.”

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