Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  Deere & Company    DE

DEERE & COMPANY

(DE)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Deere mpany : Saudi investor buys mega farm in Australia

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/20/2019 | 06:53am EDT

An agriculture investment company based in Saudi Arabia has bought its first farm in Australia extending to 200,000 hectares in the western wheatbelt for over AUS$60 million.

The Saudi Agricultural and Livestock Investment Company (SALIC) Australia has announced the acquisition of Baladjie Pty Ltd formally owned by grain baron John Nicoletti. Mr Nicoletti, who also runs 6 John Deere dealerships, decided to exit farming to give him more time to concentrate on the machinery side of his businesses. Including the vast land area, Baladjie also carries a 40,000-head Merino sheep flock and was sold successfully following non-objection approval from Australias Foreign Investment Review Board (FIRB). Although the end sale price wasnt officially disclosed, sources close to the sale reported the deal was made for over AUS$60 million (US$42.65 million).

First acquisition in Australia

SALIC KSA CEO Matthew Jansen, said: The acquisition of Baladjie is an important step for SALIC as we continue to build our global footprint in a meaningful way. It is our first acquisition in Australia as well as our first investment in sheep production. SALICs head of production agriculture investments, William England, said that the local team will build on the legacy of John Nicoletti with plans to manage the livestock and grain production enterprise for the long term with a focus on sustainability, profitability, environmental responsibility and support for the local rural community.

Land is based on over 30 farms

SALIC Australia is a wholly owned subsidiary of SALIC KSA, a Riyadh-based investment company 100% owned by sovereign wealth fund, the Public Investment Fund (PIF). The company says it aims to be a world-class food security focused agribusiness investment company, making sizeable, meaningful and scalable investments while ensuring a balanced risk optimised portfolio. This farm sale represents the biggest offering of a single parcel of broadacre farming land ever to be sold in Australia and was handled by CBRE head of agribusiness Danny Thomas.

Included in the sale are 76,575 ha of freehold land, of which 62,768 ha are arable, plus 127,018 ha of leasehold land, of which 95,040 ha are arable, which is being assigned to the purchaser. The land is based on over 30 farms located at Johns home town of Merredin and also at Bodallin, Moorine Rock, Westonia, Southern Cross, Mukinbudin, Bullfinch and Marvel Loch, plus Daisy Downs at Mullewa.

More attention to John Deere dealerships

Although Mr Nicoletti is giving up farming he says he is certainly not retiring and is going to put more energy into his 6 John Deere dealerships situated throughout Australias wheatbelt and the company headquarters in Perth. Mr Nicoletti said: If I was 10 years younger I wouldnt be doing this. I have a son and 2 daughters and all of them already have plenty of land. I have 110 people working at my John Deere dealerships and the headquarters in Perth. I want to give that side of the business more attention, he said.

(c) 2019 The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on DEERE & COMPANY
08/21DEERE MPANY : adds high-volume liquid option to High-Capacity Nutrie; The LS475 ..
AQ
08/21DEERE MPANY : 3 Series Compact Tractors | 3025E | John Deere US
PU
08/21DEERE MPANY : adds high-volume liquid option to High-Capacity Nutrie
PU
08/20DEERE MPANY : John Deere opens new Intelligent Solutions Group facility in
PU
08/20DEERE MPANY : John Deere Introduces All-New Smart Connectors to Accompany; The M..
AQ
08/20DEERE MPANY : John Deere Introduces All-New Smart Connectors to Accompany
PU
08/19DEERE MPANY : John Deere Heritage Tractor Parade and Show Set for September 7; E..
AQ
08/19DEERE MPANY : Announces Third-Quarter Net Income of $899 Million; Quarterly sale..
AQ
08/19DEERE MPANY : Heritage Tractor Parade & Show at John Deere Pavilion
AQ
08/17Deere Says Farmers Scaling Back -- WSJ
DJ
More news
Financials (USD)
Sales 2019 34 666 M
EBIT 2019 4 520 M
Net income 2019 3 218 M
Debt 2019 41 203 M
Yield 2019 1,90%
P/E ratio 2019 15,5x
P/E ratio 2020 14,0x
EV / Sales2019 2,60x
EV / Sales2020 2,47x
Capitalization 49 090 M
Chart DEERE & COMPANY
Duration : Period :
Deere & Company Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends DEERE & COMPANY
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 166,36  $
Last Close Price 154,86  $
Spread / Highest target 27,2%
Spread / Average Target 7,43%
Spread / Lowest Target -19,9%
EPS Revisions
Managers
NameTitle
Samuel R. Allen Chairman & Chief Executive Officer
Rajesh Kalathur Chief Financial & Information Officer, Senior VP
Vance D. Coffman Independent Director
Dipak Chand Jain Independent Director
Clayton M. Jones Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
DEERE & COMPANY3.81%49 090
TORO CO28.72%7 573
LINDSAY CORPORATION-5.62%947
ESCORTS LIMITED-34.95%767
TURK TRAKTOR VE ZIRAAT MAKINELERI AS--.--%359
VST TILLERS TRACTORS LIMITED-40.05%115