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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’.
Superfunds from Australia and New Zealand have both recently told Agri Investor about the difficulties of investing in ag. What does this tell us about what they need before deploying more capital in the sector?
NSW treasurer Dominic Perrottet has launched a study into the long-term lease of its commercial softwood plantation business, which sources say could raise as much as A$1bn.
New Zealand dairy giant flags writedowns of more than NZ$800m ahead of its full-year results in September when it will report its second ever annual loss.
Fonterra’s strategic review continues with a Victorian factory closure and possible sales of Brazilian JV and Chinese farms.
CEO Arama Kukutai says participation in a $8.8m funding round for New Zealand’s Invert Robotics gives the firm an entry into potential markets outside of agri.
Milltrust Agricultural Investments has taken a 24.9% stake in a new entity managing a portfolio of eight dairy farms across the North and South Islands.
The firm acquired Hikurangi Forest Farms for an undisclosed sum, describing it as a ‘cornerstone asset’ for the fund.
The sale is the latest move in an ongoing review following the announcement of the cooperative’s first ever annual loss in September 2018.
New Zealand’s sovereign wealth fund is aiming to increase its ag weighting to 3% of its assets and is increasingly looking offshore to achieve this, following its first move into Australia in 2017.
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