NZ First accuses banks for pressuring Westland Dairy shareholders

Author
Newstalk ZB,
Section
Audio,
Publish Date
Thursday, 4 July 2019, 5:54PM

New Zealand First is accusing banks of putting pressure on Westland Dairy shareholders.

Nearly 94 percent have voted to sell off the under-performing co-op to Chinese dairy giant, to the tune of $588 million.

Primary Industries spokesperson Mark Patterson says farmers he has spoken to have felt they had no choice.

Patterson says they have been told they need to vote for the deal, or sell their shares.

"From a Government point-of-view it's about national interest, and it's not in our interest to be losing these strategic companies."

New Zealand First's backing a 'national interest' test as part of the Overseas Investment Office process the Government's considering.

LISTEN TO THE INTERVIEW ABOVE AS PETE MORRISON SPEAKS TO HEATHER DU PLESSIS ALLAN

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