Macquarie to buy Qatar-owned Aussie farms
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Macquarie to buy Qatar-owned Aussie farms

Macquarie Group has agreed to buy most of the Australian farm portfolio of Qatar's Hassad Food, the agricultural arm of the country's sovereign wealth fund.

Neither Macquarie nor Qatar's state-run news agency gave a price for the deal. The Australian Financial Review previously reported the deal was worth about $300 million.

Macquarie said the properties comprised more than 100,000 hectares (247,000 acres) of livestock and cropping land in NSW, Victoria and Western Australia.

Macquarie said the properties comprised more than 100,000 hectares (247,000 acres) of livestock and cropping land in NSW, Victoria and Western Australia.Credit:Jason South

Macquarie, in a statement issued on Monday, said the properties comprised more than 100,000 hectares (247,000 acres) of livestock and cropping land in NSW, Victoria and Western Australia.

The farms, which formed the majority of Hassad's Australian holdings, would be transferred to Macquarie Infrastructure and Real Assets (MIRA) and Hassad would invest in a MIRA-managed portfolio, Macquarie said.

"The farms are high-quality assets, which will further our strategy of developing large-scale and diversified cropping and livestock production portfolios in Australia," MIRA head of agriculture Elizabeth O'Leary said in a statement.

The transaction is expected to be completed before the end of the month, according to a separate statement on the state-run Qatar News Agency.

Reuters

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