Mr Apple crates

Receivers tasked with selling assets belonging to collapsed New Zealand bank South Canterbury Finance (SCF) say they are now turning their attention to the sale of Scales Corporation, owner of the country's largest fresh apple exporter Mr Apple New Zealand, in which SCF has an 80 per cent shareholding.

The announcement came after the receivers, Kerryn Downey and William Black of McGrathNicol, confirmed they had finalised the sale of Helicopters NZ, another major SCF holding, to Canadian Helicopters Group for NZ$160m.

Mr Apple assets currently held by Scales include 20 orchards, three packhouses and coldstorage facilities, as well as transport and shipping operations.

Together with major dairy farming entity Dairy Holdings, also up for sale, the remaining assets due to be divested by the receivers are expected to fetch an estimated NZ$150m.

The New Zealand Superannuation Fund, which is understood to be interested in acquiring prime rural assets in the country, is reportedly part of a consortium bidding for parts of SCF.