QIC to buy Australia cattle station business for $295m
QIC has agreed to buy an 80% stake in cattle station operator North Australian Pastoral Company (NAP) in a deal worth around A$400 million ($295 million). It wants to leverage rising demand for beef in Asia, particularly from emerging markets.
QIC, which is controlled by the Queensland government, is advising an unspecified number of superannuation funds and the UK-based Pension Protection Fund, which between them will hold the bulk of the majority...
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