TGH.AX - Tegel Group Holdings Limited

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  • Reuters 10 months ago

    New Zealand regulator halts Tegel's purchase of land for huge chicken farm

    New Zealand's overseas investment regulator on Monday turned down an application by Tegel Group Holdings Ltd to buy land on which it planned to build a huge chicken farm in the country's north. Tegel, in the process of being acquired by the local unit of Philippines poultry supplier Bounty Fresh Food Inc, wants to construct a farm capable of raising 9 million chickens a year for meat in the town of Dargaville. A Tegel spokesman told Reuters by phone that the country's Overseas Investment Office (OIO) had told the company on Monday morning that it would turn down its request to buy the land.

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