Prime Minister John Key has notified Agriculture Minister David Carter for uttering that a sale being considered by the Overseas Investment Office is unlikely to be approved. Mr. Key had a talk with Mr. Carter about his comments on the planned sale of the Crafar farms to Chinese buyers.

Sixteen North Island farms worth $100 million, which are owned by the Crafar family, have been in receivership since October. Real estate firm Bayleys have been appointed by receivers KordaMentha to sell the farms, ranging from 128ha to 1750ha.

They have managed to receive interest from Chinese investor UBNZ Funds Management, as well as from whole Asia. Applications from overseas investors, who are interested in buying sensitive New Zealand assets, have been assessed by the Overseas Investment Office. Then the application is forwarded to the Government to see whether the sale should go ahead. Government has the final word.

Mr. Carter uttered that the sale to the Chinese firm was "unlikely to go through". The PM forbade him to make such remarks.

Vice-chairman Graham Chin said, “Natural Dairy has spent months of its time and considerable amounts of money to meet the requirements of the OIO and now we find the Minister of Agriculture seems to have predetermined the entire approvals process”.