One of Australia's largest privately-owned cattle companies has been bought-out by a British investor for at least $500 million, ABC Rural understands.The deal includes almost 300,000 cattle and 3.2 million hectares of land in NT and QueenslandConsolidated Pastoral Company has been bought by Guy Hands and his family, along with the CPC management,The sale includes just under 300,000 head of cattle, nine pastoral leases across the Northern Territory and Queensland totalling around 3.
In October last year, Guy Hands announced he would take a private interest in CPC and buy out his own firm. Then in October last year, Mr Hands announced he would take a private interest in CPC and buy out his own firm."CPC is a high-quality, well-run business with a strong position in a large and growing industry and close proximity to major beef-consuming markets," Mr Hands said in a statement.
Mr Setter said the company would continue to explore other opportunities outside the pastoral space, like developing the world's largest solar farm. Mr Setter did not reveal the detail of how he or the CPC management were involved in the company's new ownership.
LyndaFrench19 To a foreign company! How did this get approved by the Feds? Food security no longer matters?
Should never be used for this..too vast and too dry .let the land go back to how it is meant to be. How many of the cattle their suffer horrible deaths due to collateral damage.
$14 per cow... bargain. .
AdamCoffeyNT you buying things on the internet again 🍷🤪
So why don't Australian investors buy this property instead of selling off the farm and buying investment properties that keep 1/3rd of all Australians paying rent with nothing to show for it. Or maybe a manufacturing business?
20 years ago worked at Newcastle Waters... in the days Packer would fly the ringers with him to the casino for a night.. incredible place .. Shame it’s not aus owned
What is it that non Australian investors can run those stations, making money, but Australians cannot ?
Mmmm gimme some of that stamp duty revenue baby
No property in Australia should ever be sold to a foreign investor or owner ...
They look skinny. Feed ur animals man
A moooving tale about yet another iconic Australian business falling into foreign ownership
Sold by Poms to Poms! UK is 2nd biggest Foreign Ownership of Australia but Top for Farmlands!!
Is it?
Just imagine the hysteria if this was a Chinese investor?