Livestock

The deal demonstrates the PSP Investments-backed company’s ambition to become the world’s largest seafood conglomerate, according to a source.

The manager of ASX-listed Rural Funds Group has purchased Cobrunga, its third pastoral property acquisition and fourth overall since concluding a A$104m entitlement offer in August 2018.

Head of natural resources Marc Drouin tells Agri Investor his unit would have been unlikely to take on such a complex agricultural investment three years ago.

Land Down Under achieved total annual returns of 12.75%, compared with 6.87% in the US, according to the Australian Farmland Index.

The Nature Conservancy has partnered with a local ag manager to acquire the properties for A$55m in NSW.

The country’s drive to reduce ammonia emissions from livestock has had a positive reception from entrepreneurs and venture capitalists keen to introduce new technology to catalyze change.

The sale is the latest move in an ongoing review following the announcement of the cooperative’s first ever annual loss in September 2018.

The Australian company, owned by Terra Firma, further sells down its portfolio in the $97m deal with the little-known investor.

Aquaculture firm Seafarms Group novated its option to buy Legune Station in the Northern Territory to AAM but signed a lease to continue developing Project Sea Dragon.

Executives from The tru Shrimp Company tell Agri Investor their network of Midwest farmers and former ethanol investors will allow the Minnesota-headquartered business to leverage the region’s grain endowment, investor base and hunger for development.