The Rt Hon Winston Peters MP, Leader of New Zealand First, today said that the Government should be on full alert when looking at the imminent sale of Brierley’s $200 million share in Sealords.

“It has been reported this week that:

a) A Japanese Company is understood to be pairing up with Maori fishing interests in an attempt to get around the Government’s rejection of overseas bids for Sealord, and

b) Nissui would help fund Maori interests buying the remainder – 25.1 percent – of Brierley’s $200 million share in Sealord, New Zealand’s biggest fishing company

“The device, as outlined in press reports, that Brierleys seeks to use are simply not legal,” said Mr Peters.

Mr Peters said that any legal analysis of the Brierley’s proposal demonstrates, if media reports are accurate, that the proposal does not comply with the law.

ENDS

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