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22 Aug 2019 16:42
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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


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