An unknown completed the acquisition of Mooral almond orchard from Rural Funds Management Limited
December 01, 2020
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An unknown buyer agreed to acquire Mooral almond orchard from Rural Funds Management Limited for AUD 98 million on August 24, 2020. The acquisition is subject to completion of due diligence and Foreign Investment Review Board approval. As of October 9, 2020, due diligence conditions have been satisfied. As of November 11, 2020, Foreign Investment Review Board Approval has been satisfied and the offer is now unconditional.
An unknown completed the acquisition of Mooral almond orchard from Rural Funds Management Limited on December 2, 2020
Rural Funds Group is an Australia-based real estate investment trust (REIT). The Company owns a diversified portfolio of agricultural assets that are leased predominantly to corporate agricultural operators. It is primarily engaged in the development and leasing of agricultural properties and equipment. The Company leases almond orchards, macadamia orchards, vineyards, cattle properties, cropping properties, agricultural plants and equipment, cattle, and water rights. The Company holds three almond orchards approximately 4,068 planted hectares; six vineyards approximately 636 planted hectares; 13 macadamia orchards approximately 1,906 planted hectares; seven properties with areas to be developed into macadamia orchards with 2,520 hectares; 23 cattle properties made up of 18 breeding, backgrounding, and finishing properties and five cattle feedlots with a combined capacity of 150,000 head, and 15 cropping properties approximately 14,573 hectares.