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AACo eyes morsels of Stanbroke beef empire
23 Oct 2003
Australian Agricultural Co is believed to have been offered several rural properties, including some Stanbroke properties, by AMP and the successful Stanbroke bidder, Nebo Holdings.
AACo's subsidiary Rural Management Partners announced on October 22 that it will manage AMP's Cooplacurripa in the Upper Manning River Valley, the largest cattle property in south-eastern Australia. AACo will own the 7,000 cattle and lease the 22,560 ha property from a private investor, for a total sale price of around $16 million.
AACo has also been offered four Stanbroke properties, including the 102,103 ha Havilah station near Collinsville and the 11,608 ha Rockybank south of Roma. The offers come despite Nebo Holdings' assurances during the tender process that it had no intention of splitting up the Stanbroke empire.
AACo is believed to have been offered a number of other properties.
Sydney Morning Herald, 23/10/03.
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