Daniel Kemp
The NZ co-operative has taken its stake to 99.9% and has offered to buy the remaining 0.1 percent, with the Chilean business recently impacted by ‘challenging market conditions’.
Australian superannuation fund sells its portfolio, a combination of irrigated farming properties and water rights, to a subsidiary of ASX-listed Washington H Soul Pattinson for approximately A$100 million.
Basin state governments all said progress was made at a meeting this week, although claims of an ‘overhaul’ of the Plan by the NSW government were dismissed by observers.
AAM managing director Garry Edwards said that investors were looking for experienced managers with a strong record in agriculture, which has been “difficult to access” for some investors.
First State Super CEO Deanne Stewart will continue as chief executive of the merged entity, which the two funds said would provide access to more investment opportunities and reduce costs.
The national body for Australia’s dairy sector has called for 'better targeting' of different investor groups, including institutional investors and high-net-worth individuals, to attract more capital into the industry.
Rabobank found that 41% of farmers thought agricultural conditions would worsen in the coming 12 months, after ABARES revised down its winter crop forecast for 2019-20 by 13%.
With NSW threatening to tear up longstanding water-sharing agreements, institutional investors are questioning whether the headline risk that comes with water investment is worth the consistently strong returns.
The corporate advisory firm aims to address a ‘structural funding gap’ in Australian agriculture by connecting agribusinesses with investors, Craw said.
Canadian pension expands its presence in Australian ag to almost A$3bn with two simultaneous mega-deals in the Murray-Darling Basin.
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