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Silver Fern Farms shareholders have approved the joint venture with Chinese company Shanghai Maling.
At a special meeting in Dunedin yesterday, 82.2% of supporters voted in favour of the deal.
SFF chairman Rob Hewett says he is pleased with the overwhelming support shown by shareholders.
"It's all about better returns to our suppliers of livestock," he told shareholders after announcing the results.
"The understanding of our strategy is very gratifying."
The vote result will be relayed to Shanghai Maling, who will take it to its shareholders in China on October 30.
Hewett says SFF has a letter of support from Bright Foods, which owns 38% of Shanghai Maling.
"That's a huge degree of confidence in this transaction," he says.
Hewett expects the deal to finalise within nine months.
"We hope its sooner rather than later," he says.
"So this year, it will be business as usual for Silver Fern Farms."
One of the country's leading experts on China has praised the NZ Government for its handling of the recent incident with China over that country's cyber attack on two of our parliamentary institutions in 2021.
Hopes of NZ sheepmeat prices picking up anytime soon in the country's key export market of China looks highly unlikely.
Zespri has unveiled the award-winning KiwiBrothersTM mascots in China for the first time to market its large kiwifruit crop.
Authorities in China have clamped down on companies in that country which have been packaging and selling their own local fruit under the Zespri brand.
Meat processor and exporter Silver Fern Farms Ltd has joined fellow South Island-based meat company Alliance Group in reporting a big loss for the past year.
Trade Minister Todd McClay says New Zealand has no intention of backing down in a trade dispute with Canada over dairy products.
There have been leadership changes at the Hamilton-based Dairy Goat Co-operative, which has been struggling financially in recent years.
Horticulture NZ chief executive Nadine Tunley will step down in August.
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