Landcorp Farming, the state-owned farmer trading as Pāmu Farms of New Zealand, has gone with a back-up bidder for its Jericho Station sheep and beef farm in Fiordland after the preferred foreign buyer withdrew.
China's richest man, Alibaba founder Jack Ma, slipped into New Zealand incognito last month. The founder of the world's largest retailer, which specialises in e-commerce, was in Waikato during Chinese New Year to check out his latest investment.
Fonterra's owners are worried about the cooperative's $800m investment in establishing dairy farms in China, which yielded only $1m in earnings last year, despite a $38m subsidy of their operations by Fonterra's China ingredients division.
Canada's Public Sector Pension Investment Board, got a green light to buy a medium-sized New Zealand dairy farm and a neighbouring dairy support block in Canterbury for $17.7 million just ahead of tougher requirements on land sales to foreign buyers.