Shanghai Pengxin Group Co., a Chinese property developer seeking to export dairy products to Asia, won approval to buy 16 New Zealand dairy farms amid local objections to rising foreign ownership of assets.
AMP Capital agreed to buy a 42 percent stake in Powerco Ltd., New Zealand’s second-largest electricity and gas distributor, for NZ$525 million ($408 million) from Brookfield Infrastructure Partners LP.
Shanghai Pengxin Group , a Chinese property developer and owner of agriculture and mining ventures, is seeking to buy 16 dairy farms in New Zealand after the government rejected an earlier bid by another Chinese company.
Natural Dairy (NZ) Holdings Ltd., a Chinese company that wants to buy farms in New Zealand, has lodged an application with foreign investment regulators for approval to buy properties known as the Crafar farms.
National Australia Bank Ltd. has received approval from New Zealand’s Overseas Investment Office to buy Axa Asia Pacific Holdings Ltd.’s assets, the Australian Financial Review reported, citing a statement from Auckland- based law firm Russell McVeagh.
Ormat Technologies Inc., a U.S. developer of geothermal energy, was given approval by the New Zealand government to buy land in the nation’s North Island for a NZ$200 million ($167 million) power plant.