Ministers approve overseas investment in Silver Fern Farms

Minister for Land Information Louise Upston today announced the approval of Shanghai Maling’s application to purchase a 50 per cent interest in Silver Fern Farms.

Minister for Land Information Louise Upston, and Associate Minister for Finance Paula Bennett, the decision-making Ministers, are satisfied that the purchase would create substantial and identifiable benefit for New Zealand.

“The Overseas Investment Office recommended that we approve Shanghai Maling’s application because it meets the criteria set down in the Overseas Investment Act 2005,” Ms Upston says.

“We are satisfied that the investment will be of substantial and identifiable benefit to New Zealand, which is the test set out in the Act. The investment will put the company in a better financial position and allow it to increase its exports.

“New Zealand shareholders will continue to have 50 per cent ownership of Silver Fern Farms, while benefiting from the injection of funds from the new investor.”

Details of the decision are available on the Land Information New Zealand website.