Saudi government's agriculture investor buys Australian farmland

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Bloomberg| 4 April 2019

Saudi government's agriculture investor buys Australian farmland

by Sarah Algethami

 
Saudi Agricultural & Livestock Investment Co. bought 200,000 hectares of farmland in Australia as the company explores global deals to expand its business.

The purchase of Baladjie Pty Ltd., which also owns 40,000 merino sheep, in Western Australia’s wheat belt is the company’s first investment in the country and in sheep production, Salic, as the company is known, said in a statement.

The deal “is an important step for Salic as we continue to build our global footprint in a meaningful way,” Chief Executive Officer Matthew Jansen said, without revealing the value of the transaction.

Salic, owned by the kingdom’s sovereign wealth fund, invests in agriculture, livestock production, and supplies commodities like wheat, barley and corn. The mostly desert nation sources its food from abroad. The firm is considering investments everywhere, from Europe’s breadbasket to meat deals in the Americas, Jansen said in November.

Salic last year bought Ukrainian farming company Mriya Agro Holding Plc, gaining more land, storage and seed-production assets. It also boosted its stake in Brazilian beef producer Minerva SA to 33 percent.

Original source: Bloomberg
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