The deal between the Crafar portfolio of farms and Hong Kong-based Natural Dairy is set to be scrutinized by Overseas Investment Office for the next 2 months.

As soon as the application reached the office today, it was scrutinized by the afternoon.

As per the agreement, Natural Dairy will be able to purchase an 80% stake in Crafar farm's UBNZ Assets Holdings, whose rights are at present owned by May Wang.

The rest of the 20% stake is already owned by Natural Dairy.

The OIO said, after the completion of the analysis of the preliminary application that it will commence with the full-fledged review soon.

Last year, four of the Companies under Crafar received the ownership of nearly $200 million of assets in PGG Wrightson and banks.

They possessed ownership of as many as 13 dairy farms and 3 dry stock grazing properties.

In addition, it said that will suggest the Government to determine the effectiveness of any application within 50 days.

Nonetheless, the current application analysis has not been given any time bound.

The applications are scrutinized by Minister for Land Information, Maurice Williamson and the Minister of Finance, Bill English.