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10 Dec 2019 2:13
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  •   Home > News > Business

    The country's second biggest dairy co-op will be handed over to its Chinese buyers next month

    The country's second biggest dairy co-op will be handed over to its Chinese buyers next month


    The High Court takeovers panel has approved the sale of Westland Dairy to the Inner Mongolia Yili Company - for 588-million-dollars.

    Westland chair Peter Morrison says the court's approval was the last key condition for the sale to go ahead - after the Overseas Investment Office gave them the all clear on Tuesday.

    He says all shareholders will receive their money on August 1 - and Yili can officially take up the reins.

    © 2019 Newstalk ZB, NZCity


     Other Business News
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     09 Dec: House-buying conditions are expected to stay reasonable through to mid-2020
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     09 Dec: John O'Neill has reportedly been approached to return to Rugby Australia yet again, but this time as chairman
     09 Dec: Thousands of Auckland commuters will have to find an alternative way to work this morning
     08 Dec: China's exports unexpectedly fell 1.1 per cent in November from a year earlier
     08 Dec: Parts of the South Island telecommunications network are still down following severe weather
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