Macquarie Group's $300 million takeover bid for a real estate investment trust, which owns vast farms across Australia, could pave the way for more farming deals involving the investment banking powerhouse and the fresh food giant Costa Group.
Macquarie Group, one of the world’s largest alternative asset managers, has announced that one of its agricultural funds will seek to acquire all of the issued securities in Australian listed farmland REIT Vitalharvest
The sale includes just under 300,000 head of cattle, nine pastoral leases across the Northern Territory and Queensland totalling around 3.2 million hectares, and a 90 per cent stake in a feedlot business in Indonesia.
The $56.5 billion Harvard University Endowment Fund is preparing to sell another chunk of its Australian almond and cotton holdings after putting the Western Rosella Farming portfolio in the NSW Riverina on the market.
Agricultural investors say the COVID-19 crisis has had little impact on their business and investment intentions, with Australian agricultural land, water and business assets as appealing as ever to investors.
The Singaporean-owned company has about 7600 hectares of farmland including a network of 25 properties in the Murray Valley and near Bendigo and in the Victorian Wimmera, carrying about 40,000 breeding sows.