PM Called to Account on Future of Silver Fern
Farms
New Zealand First is calling on Prime
Minister John Key to explain what is going on in the
background of New Zealand-owned beef company, Silver Fern
Farms.
"Mr Key is seemingly disinterested, but this is a
New Zealand-owned enterprise apparently at the misery of a
foreign bank and an investment firm," says New Zealand First
Leader and Member of Parliament for Northland Rt Hon Winston
Peters.
"New Zealand First believes Westpac has forced
Silver Fern Farms into seeking equity, with Goldman Sachs
appointed to raise the equity. But Silver Fern Farms is not
able to negotiate with anyone other than those who Goldman
Sachs choose.
"While Goldman Sachs is negotiating with the
Chinese at the moment, who are keen on a $100 million stake,
it will not allow Silver Fern Farms to talk to potential New
Zealand buyers.
"There are New Zealand equity providers
who are annoyed as they believe they can keep it New Zealand
and farmer owned," says Mr
Peters.
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