Big beef industry business, Consolidated Pastoral Company (CPC), appears likely to be back on the market, according to financial sector speculation. UK private equity firm, Terra Firma, which bought CPC in 2009, is reported to be preparing to sell its $1 billion northern Australian and Indonesian cattle operations, which spans 16 properties over 5.5 million hectares.
Property agency Knight Frank and investment banking giant Goldman Sachs are believed to be handling the sale in a two stage auction process. CPC, with an asset base worth about $880.5m, including about 400,000 head, is Australia’s largest privately-owned cattle enterprise. It also has an 80 per cent stake in two feedlots in Indonesia, in South and North Sumatera, with capacity to handle about 36,000 cattle. Last year CPC exported about 25,500 live cattle to Indonesia.
The Australian Financial Review has reported the cattle company is expected to be pitched to local and offshore superannuation funds, industry and strategic players. Interested parties have apparently been told confidential sale documents will be released in February, and first round bids will be due in April.
– ANDREW MARSHALL
Every three years, Australian woolgrowers set the future funding level of their wool research, development and marketing body through WoolPoll. This WoolPoll panel works with AWI and endorses the voting documentation and processes, ensuring transparency and integrity throughout.
The 2018 panel members are: Sydney Lawrie, panel chair (SA), Kristen Frost (NSW), John Hassell (WA), Ed Storey (NSW), Candice Roberts (QLD), Steve Harrison (VIC), Rob Ingram (NSW), Brenton Lush (SA), Richard Keniry (NSW), Joann Wilkie, Australian Department of Agriculture and Water Resources, Jock Laurie, AWI Board.
New at CropLogic
NEWLY listed agronomy and crop technical analysis company, CropLogic, has appointed David de Cuevas as chief operating officer to focus on expanding operations. He was previously sales performance general manager with 2degrees New Zealand. He has extensive experience within the financial services, manufacturing, telecommunication, and technology sectors.
Managing director, Jamie Cairns, said Mr de Cuevas would lead the company’s operations in its upcoming deployment of up to 1000 new moisture and weather monitoring probes in crops in the US.