Macquarie's Paraway buys two cattle stations

Macquarie's Paraway buys two cattle stations
Macquarie's Paraway buys two cattle stations

Macquarie Group's Paraway Pastoral have led the re-ignition of the cattle station market by spend over $100 million on two cattle stations.

They bought the properties from the owners of the Western Grazing Company the Oxenford family, according to the Australian Financial Review.

Sparked last year by retail billionaire Brett Blundy who paid over $100 million for Paraway's Walhallow, it's been a very active six months in the cattle station market.

An 80 percent stake in the cattle station operator North Australian Pastoral Company was bought by the $78 billion Queensland Investment Corporation for $300 million.

The Chinese consortium Dakang also launched a $370 million bid for S.Kidman & Co, Australia's largest landholder.

The latest deal saw Paraway Pastoral snap up 1.7 million hectares of Western Grazing's land which included Rocklands Station at Camooweal in north west Queensland and Tanbar Station in the Cooper Creek Channels in south west Queensland.

The properties carry a capacity of around 65,000 head of cattle in normal seasons combined, with the latest deal including 45,000 head of cattle.

A Paraway Pastoral spokesperson said: "The acquisition of Rocklands and Tanbar stations are complementary to our existing portfolio and enhance our ability to deliver consistent, reliable supply of quality livestock into key supply chains".

Ben Cameron of Bentleys International Advisory was appointed to advise Western Grazing directors through a confidential revealed in The Australian Financial Review in February.

Tags: 
Rural Cattle Station

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