Deal completed

China’s Shanghai Maling has completed its purchase of a controlling stake in Silver Fern Farms. The Chinese company has paid $267 million in cash for a 50 per cent stake in Silver Fern Farms, which includes certain voting rights on the board. The deal had been due to complete by January 4, 2017, but SFF said last month that it aimed to tie up the sale by the end of the year. The cooperative now holds $57m in cash, alongside its 50 per cent stake in the new business.