A SPOKESMAN for McGrathNicol has refused to confirm or deny details regarding a possible sale of Cubbie Station, published in The Australian Financial Review, are correct.
John Cronin, a partner at Cubbie Group's adminstrator, McGrathNicol, said while the sale was still ongoing, bidder details would remain confidential.
The Australian Financial Review reported Cubbie Station was in the final stages of a sale to a consortium led by Eastern Australia Agriculture (EAA) and involving a US hedge fund.
EAA operates a farm near Cubbie station and would be expected to operate Cubbie if the consortium it has put together buys the asset, the AFR reports.
EAA shareholders are based in Grand Cayman in the Cayman Islands. Its directors include former Ridley Corporation managing director Matthew Bickford-Smith and former Colly Farms's grower services manager Peter Cottle, according to the AFR.
EAA has previously been backed by the Hong Kong-based Pacific Alliance Group, which has $US4 billion under management and is examining other distressed debt opportunities in Australia.
