Australian supermarket giant Woolworths, the owner of the Countdown, Fresh Choice and Super Value supermarkets, has the green light from the Overseas Investment Office to buy up to 75 hectares of residential land. Australian supermarket giant Woolworths has the green light to buy residential land for supermarkets and other facilities in New Zealand in the next two years from our overseas investment watchdog. The Overseas Investment Office (OIO) has granted General Distributors and Wholesale Distributors, subsidiaries of the Woolworths Group, the consent to acquire residential (but not otherwise sensitive) land under the Overseas Investment Act. READ MORE:* Countdown supermarket owner plans major new subdivision for Christchurch* Is New Zealand's supermarket duopoly ripping us off? Countdown has been approached about whether it plans any residential housing on the residential land it has permission to acquire.

Source: Stuff December 19, 2019 04:07 UTC