Twain and husband, music producer Mutt Lange, paid $21.4 million to buy Motatapu and Mt Soho Stations near Wanaka five years ago but the marriage has since collapsed.
The Herald on Sunday reported Lange has bought 8500ha of adjoining Glencoe Station, which has a capital value of $5.4 million.
The seller, Queenstown developer John Darby, told Mountain Scene newspaper the sale had gone unconditional after Overseas Investment Commission approval.
"We decided it made good farming sense," Mr Darby told the newspaper.
"We were really concentrating on the front part of the farm [overlooking Arrowtown] and under-utilising the land in the back part."
He expected Lange to extend his merino sheep-farming operation over his new land.