A group of central North Island dairy farmers, led by entrepreneur Sir Michael Fay, has increased its offer to include all the Crafar dairy farms being managed by receivers KordaMentha.
The group had previously indicated an interest in nine of the 16 Crafar farms. Now more farmers, including local iwi
interests, have joined a $171.5 million offer for all 16 farms - an average of more than $28,500 per hectare for the properties - Sir Michael said in a statement.
The offer was tabled with the receivers KordaMentha today.
"Our group of farmers is the only other buyer for all the farms in this sales process and, following satisfactory due diligence, we are ready to go,'' Sir Michael said.
"Due diligence'' is a book-checking exercise that is carried out by interested parties before buying a business.
