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PSP to take Australia’s Webster private in A$724m deal

Canadian pension fund PSP has agreed to acquire 100% of the shares in Webster, Australia’s largest walnut producer and a significant holder of water entitlements in the Murray-Darling Basin.

Nuveen targets $2.4bn for first open-ended farmland fund – exclusive

The vehicle secured $100m from the Vermont Pension Investment Committee and will aim to make farmland acquisitions averaging $20m across the US, Australia, New Zealand, Brazil, Poland, Romania and Chile.

Smith Agri International launches A$200m Australian timberland fund – exclusive

The firm is launching its first managed investment fund, a 10-year closed-ended vehicle targeting an IRR of 8-18% that will invest exclusively in Australian timberland.

New Forests and Global Forest Partners bids for forestry assets hit by competition concerns

The two managers’ offers for assets owned by Resource Management Service have raised concerns with the ACCC over a potential reduction in export services.

TIAA’s Westchester puts NSW dryland cropping property up for sale

Westchester is selling its NSW Golden Triangle property, Grainfields, expected to fetch a price of more than A$8,000 per ha.

Rural Funds continues war of words with Hong Kong analyst

Rural Funds Management and Bucephalus Research Partnership issued fresh rebuttals to each other this week, with RFM describing the analyst’s research as ‘false and misleading.’

‘Harmful market practices’ uncovered in Australia’s wine grape sector

ACCC makes 10 final recommendations for wine grape producers and warns that a mandatory code of conduct could be introduced in 12-18 months if sufficient progress is not made.

Agri investors have a big role to play in the climate fight

With climate change high on the agenda again following widespread youth strikes and a rousing speech from Greta Thunberg, it’s incumbent on Australian ag investors to take action in the absence of federal government policy.

Australian farm production projected to fall to Millennium Drought levels in 2019-20

ABARES forecasts that sharp falls in livestock production and summer crops will lead to farm production volume dropping by 15% next year, hitting lows not seen in more than a decade.

Rural Funds hits back at fresh allegations of inflated asset values

The ASX-listed REIT says it is ‘easy to make things up’ in response to research from Hong Kong-based Bucephalus Research Partnership, which echoes recent allegations made by Bonitas Research.
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