Feds Says Shanghai Maling Decision Sensible For New Zealand

Source: Federated Farmers

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New Zealand will enjoy benefits from the approval for Shanghai Maling Aquarius to acquire a 50 percent ownership stake in Silver Fern Farms.

Federated Farmers Meat & Fibre Chair Rick Powdrell says it’s a sensible decision for the country and aligns the company better to service the needs of global markets in a modern world.

"New Zealand farmer-shareholders will continue to own 50 percent of the co-operative and will enjoy the benefits of access to the growing Chinese market.

"This is exactly what the farmer-shareholders wanted, with a majority voting last month for the deal to be approved," says Rick.

ENDS