[26 July/ Otago Daily Times]

LIC is selling its Deer Improvement subsidiary, including a Southland farm and over 2000 animals as a going concern sale. The sale is expected to be completed in early October and includes the 390ha Balfour property, artificial breeding collection and laboratory facilities and the deer herd. The buyers were South Canterbury Farmers Tom and Samantha Macfarlane and ‘associated parties. LIC Chief Financial Officer Linda Cooper said the sale allowed LIC to concentrate on its dairy business and invest funds into areas more focused on creating value for dairy farmer shareholders.