Large Sales To Overseas Buyers Another Blow For NZ

The sale of Cook Strait ferry service Bluebridge and trucking company Freight Lines to Australian investors is another example of foreign owners gaining increased control of Kiwi businesses, says New Zealand First Leader and Northland Member of Parliament, Rt Hon Winston Peters.

“The late Jim Barker showed great ingenuity establishing his company Strait Shipping and it is sad to see control now going over the ditch.

“This is just one of several large sales just approved by the Overseas Investment Office (OIO) which will concern many New Zealanders.

“Another is the purchase of Hunter Valley Station beside Lake Hawea in Central Otago to New York couple Matt and Annette Lauer.

“This will disappoint many Kiwis who wanted better access through the station to public conservation land at the head of Lake Hāwea and beyond.

“Also on the list of latest approvals by the OIO is the sale of New Zealand’s largest general aviation company Airwork for more than $203 million to Chinese company Zhejiang Rifa Holding Group Co. Ltd.

“Airwork has a long history in New Zealand having started in Wellington in 1936 assembling Tiger Moth biplanes.

“These sales are deeply disturbing for New Zealand as we are becoming like puppets controlled by foreign owners,” says Mr Peters.

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