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Canadian investment company buys New Zealand Dairies for $NZ17.7 million

Canada's Public Sector Pension Investment Board, or PSP Investments, got a green light to buy a medium-sized 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.

Ramsay Dairy Farm, which is indirectly owned by PSP Investments, was granted consent to buy 335.2 hectares of land and 77.2 hectares of land in Hororata, Canterbury by the Overseas Investment Office.

According to the OIO, the properties will be amalgamated to create a larger dairy farm.
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