Farmland deal worth $780m falls through
A major sheep station portfolio deal worth $780 million has fallen through.
Australian Food and Agricultural Company, previously controlled by the late Colin Bell, had last year agreed to sell the NSW properties, covering 225,000 hectares, including Boonoke and Wanganella – stations said to be the birthplace of the Australian Merino Sheep.
The buyer was US based Agriculture and Natural Solutions Acquisition Corp, backed by Riverstone Investment Group and Impact Ag Partners – founded by Bert Glover – which was anticipated to bolster exporting home.
Also including Baratta, Peppina, Warrison and Zara stations, water entitlements, over 100,000 commercial and merino sheep and c15,000 cattle, the deal was seeking foreign investment review board approval (story continues below).
It is understood a more volatile economic backdrop including a tariff on Australian imports affecting meat, was a factor to call it off.
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