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An overseas company’s application to purchase Lochinver Station has been declined because the benefits to New Zealand are not substantial and identifiable, Ministers Paula Bennett and Louise Upston say.
Pure 100 Farm Ltd, a subsidiary of China-based Shanghai Pengxin, applied to the Overseas Investment Office (OIO) last year to buy the 13,800 ha farm near Taupo for $88 million.
- Louise Upston
- Paula Bennett
- Land Information
- Finance