The Overseas Investment Office (OIO) has recently denied the market reports of the company completing the review of the Natural Dairy Holdings to buy 20 farms. It is to be mentioned here that the farms included in this matter are owned by the Crafar family.

As the OIO manager Annelies McClure said in a statement that OIO has not rejected, suggested or imposed significant constraints on the application of Natural Dairy. It may be noted here that the application of the company is still being analyzed under the requirements of the Overseas Investment Act 2005 and hence, no decision has been made by the OIO so far.

Moreover, the Manager from OIO also mentioned the fact that the OIO is still assessing the application and it is taking a long time due to the complexity of the issue. The company cannot suggest a suitable time frame in which it will be able to finalize its decision to acquire an 80% stake in the UBNZ Assets Holding. For the record, the operations of the Natural Dairy are being led by the Crafar Family and are conditional to the outcome of the OIO review.