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Outside investors will be invited to participate in the takeover, with Guy Hands and his family providing a cornerstone commitment alongside CPC management.
The country will remain a net exporter of cereal grains, but the proportion of grains being exported is forecast to fall from 60% down to 53% as domestic demand growth outpaces supply.
Embattled listed fund manager, which generates income by leasing farmland, published a farm-by-farm breakdown of property values as it tried to reassure investors in the face of a short-selling attack.
Farm income returns dropped to their lowest level in four years as dry conditions persist in eastern and northern Australia, but annualized returns remain steady year-on-year.
Weather conditions in eastern Australia remain challenging, but farmland has continued to deliver strong capital growth for investors
Macquarie has closed its third fund, which was established in 2017 to invest in row cropping and permanent cropping assets, with deployment well advanced.
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.
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.
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.
The two managers’ offers for assets owned by Resource Management Service have raised concerns with the ACCC over a potential reduction in export services.
Westchester is selling its NSW Golden Triangle property, Grainfields, expected to fetch a price of more than A$8,000 per ha.
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