Macquarie's Paraway Pastoral, which made a $39 million profit last year, is close to securing the biggest farmland deal in Australia since the sale of S. Kidman & Co in 2016 to Gina Rinehart.
It is set to acquire the remaining farm assets of Hassad Australia – owned by Qatar's sovereign wealth fund – for close to $300 million.
The Australian Financial Review has suggested the Qatar Investment Authority will become a part investor in a Macquarie-controlled fund that will own the Hassad assets.
Macquarie and Hassad have declined to comment on the 100,000 hectare deal.
Hassad recently sold its 47,600-hectare farm Telopea Downs to fifth generation family-owned company A.J. & P.A. McBride, brokered by Elders general manager for real estate, Tom Russo.
Macquarie's mooted buy include Hassad's 22,562-hectare Old Bundemar station at Trangie, NSW; the 8244-hectare Barton Station in Moyston, Victoria and the 14,672-hectare grain-producing property Amarinya in Western Australia's Jerramungup.