3. R DOUG WOOLERTON (NZ First) Link to this
to the Minister of Finance
Is the Government considering an application by Nutritek Overseas PTE Ltd for consent to acquire shares and the effective ownership and control of New Zealand Dairies Ltd?
Has the Minister approved the application by Nutritek Overseas PTE Ltd to acquire shares and the effective majority ownership and control of New Zealand Dairies Ltd?
Hon Dr MICHAEL CULLEN Link to this
Two Ministers make that decision: me and Mr Parker. I am not aware yet whether Mr Parker has considered the papers.
Why is the Government favourably considering an application that gives a grouping of Russian businessmen, who are probably ex-KGB operatives, a share of New Zealand’s critical dairy industry?
Hon Dr MICHAEL CULLEN Link to this
New Zealand Dairies is a relatively small player. It is also one that has been in significant financial trouble in recent times, and the consideration of the approval will be given, in part, against that kind of background.
Does the Government favour Russian businessmen over our hard-working farmers, who are having this asset virtually stripped from them?
Hon Dr MICHAEL CULLEN Link to this
From the farmers’ perspective—although I know there are concerns from farmers—the key issue is what price they get for the milk. There is a very real possibility that they will get a higher price for the milk, in terms of a change in ownership, than they would otherwise get.