Canterbury dairy company Synlait farms and the Chinese company buying a majority stake in the company, have had to get an extension from the Takeovers Panel, while they wait for the final regulatory approval from China.
The Overseas Investment Office in New Zealand cleared the way last month for Shanghai Pengxin to take 74 percent ownership of in the 13 Synlait Farms' properties, south-west of Christchurch.
The rest of the shares will be held by two of the existing Synlait Farms owners, John Penno and Juliet Maclean.
Shanghai Pengxin still has to meet the final condition of its takeover offer - obtaining the approval of Chinese regulators for the deal and for the transfer of funds out of China.
It hadn't received that when the deadline ran out last Friday.
But Synlait Farms' chairman, Barry Brook, says the Takeovers Panel has granted it a month's extension.