The OIO ruled Mercury Agriculture LP could not buy the land in South Canterbury and Otago. Rangitata Dairies Limited Partnership and Rangitata GP Limited – companies tied to former Fonterra chair John Wilson – wanted to sell the farmland to the Canadians, but the sale was denied by Land Information Minister Eugenie Sage and Associate Finance Minister David Clark.
According to the OIO decision, the ministers were not satisfied the investment would result in ‘substantial and identifiable benefit to New Zealand’.
The Hound suggests it is rather ironic that these same ministers have been happy to sign off numerous sales of swathes of good farmland to overseas-owned forestry outfits to plant horrible, mono-culture pine forests.
