The Hong-Kong-based company seeking to acquire the Crafar family farms says it's sticking with those proposals but shelving wider-ranging plans for New Zealand investment.
Natural Dairy had been intending to invest $1.5 billion in New Zealand dairy farming and processing operations.
The Hong Kong Stock Exchange has raised shareholding issues with Natural Dairy.
To resolve those, it has terminated its existing agreement with May Wang to buy the four North Island dairy farms her UBNZ company already owns, as well as the 16 Crafar farms in receivership that UBNZ has a conditional agreement to buy.
But it's putting new arrangements in place to meet the requirements of the Hong Kong Stock Exchange.
A Natural Dairy spokesperson in New Zealand, Bill Ralston, says none of this affects the current application before the Overseas Investment Office to acquire the farms.
Mr Ralston also says he understands that development of a processing plant in Tauranga to package milk products for the Chinese market is well under way.
