Australian cattle firm CPC secures major Nullarbor sheep station acquisitions
CPC, Australia's largest privately owned cattle company, has completed the purchase of the Madura Plains sheep station on the Nullarbor, a property of 711,638 hectares. The sale was approved by the federal Foreign Investment Review Board after a delay by the Western Australian government, which had previously held up the transfer of the neighbouring Rawlinna station for around seven months.
CPC is now awaiting approval to acquire the third Nullarbor holding, Arubiddy Station (314,000 hectares). Together, the three stations would give British billionaire Guy Hands control of almost 2.5 million hectares and support an estimated 145,000 sheep. The transaction is valued at under US$100 million. CEO Troy Setter said the company will not change the breeding direction of the flocks.
Entities
CPC · Guy Hands · Madura Plains · Rawlinna · Troy Setter
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] CPC is waiting for approval to purchase Arubiddy Station (314,000 hectares). www.queenslandcountrylife.com.au · www.stockandland.com.au · www.farmweekly.com.au
- [● 3 SOURCES] CPC CEO Troy Setter said the company will not change the flocks' breeding direction. www.queenslandcountrylife.com.au · www.stockandland.com.au · www.farmweekly.com.au
- [● 3 SOURCES] The Foreign Investment Review Board approved the sale of Madura Plains. www.queenslandcountrylife.com.au · www.stockandland.com.au · www.farmweekly.com.au
- [● 3 SOURCES] British billionaire Guy Hands would control the three stations after CPC's acquisition. www.queenslandcountrylife.com.au · www.stockandland.com.au · www.farmweekly.com.au
- [● 3 SOURCES] The transaction value is estimated at less than US$100 million. www.queenslandcountrylife.com.au · www.stockandland.com.au · www.farmweekly.com.au
- [● 3 SOURCES] CPC purchased Madura Plains station (711,638 hectares) on the Nullarbor. www.queenslandcountrylife.com.au · www.stockandland.com.au · www.farmweekly.com.au
- [● 3 SOURCES] Western Australian government delayed the transfer of Rawlinna station for about seven months. www.queenslandcountrylife.com.au · www.stockandland.com.au · www.farmweekly.com.au
- [● 3 SOURCES] Combined, the three Nullarbor stations total about 2.5 million hectares and can carry roughly 145,000 sheep. www.queenslandcountrylife.com.au · www.stockandland.com.au · www.farmweekly.com.au