China based textile group Shandong Ruyi has exited the landmark Cubbie Station near Dirranbandi – selling its 51 per cent stake to Macquarie.
The offshore investor acquired its majority interest in Australia’s biggest cotton farm for $232 million in 2012; the property had been in administration for three years.
That transaction was conditional on the group selling down its 80pc share to 51pc within three years.
That happed in 2019 – to Macquarie Infrastructure and Real Assets, which following the deal controlled a 49pc stake.
It is that trust which has now acquired the balance (story continues below).
Colliers’ Rawdon Briggs was the agent.
Spreading 93,700 hectares, near the New South Wales border, Cubbie Station is said to account for about 10pc of Australia’s cotton output.
More to come.
Subscribe to our newsletter at the bottom of this page.