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Packer sells out of top end cattle
20 Mar 2009
London based private equity firm Terra Firma has reached an agreement with the Packer family''s Consolidated Pastoral Holdings to buy 90 per cent of CPC''s grazing assets in northern Australia. The remaining ten per cent will continue to held by CPC''s chief executive Ken Warrimer. CPC owns 300,000 head of cattle on properties that cover more than 5 million hectares in the Northern Territory, Western Australia and Queensland. All regulatory approvals have been cleared with the deal expected to be finalised within a month.
Bloomberg, 20/03/2009
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