Receivers for Crafar Farms agree sale of 16 farms to May Wang's UBNZ

Receivers for Crafar Farms agree sale of 16 farms to May Wang's UBNZ

The receivers for Crafar Farms have announced the conditional sale of 16 farms to UBNZ Asset Management, which is controlled by controversial Chinese-New Zealand businesswoman May Wang. 

Brendon Gibson and Michael Stiassny from Korda Mentha said in a statement the agreement was conditional on Overseas Investment Office approval and the receivers had the flexibility to sell to other bidders with better or more favourable offers.

"Bayley's Real Estate continues to undertake a significant sales and marketing campaign which is expected to attract both potential local and international purchasers," the receivers said.

"The campaign, by the way of international tender, closes on 23 June and will continue to run. We have received significant interest from a number of well qualified parties to date," they said.

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