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Cattle station acquisition coup for WA
The sale of four Kimberley cattle stations has attracted a price tag of $100 million and is believed to be one of the largest such agribusiness acquisitions in Western Australia.
Melissa Coade
Firms: Piper Alderman (Consolidated Australian Pastoral Holdings Pty Ltd); Lark Lawyers (SAWA Pty Ltd)
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Deal: Four cattle stations located in Western Australia’s Kimberley region have been sold to Consolidated Australian Pastoral Holdings Pty Ltd (CAPH) by SAWA Pty Ltd (SAWA).
Value: $100 million
Area: M&A
Key players: The Piper Alderman team advising CAPH was led by partner Simon Venus (pictured). Senior associate Bianca Battistella and lawyer Liberty Privopoulos assisted on the deal.
The Lark Lawyers team advising SAWA was led by partner Peter Lark, with assistance from lawyer Jonica Eastaugh.
Deal significance:
A complex agribusiness acquisition has been finalised with the $100 million sale of four cattle stations in Western Australia’s Kimberley region. The deal comprises the acquisition of over 1 million hectares and approximately 47,000 head of cattle from Moola Bulla, Mount Amherst, Beefwood Park and Shamrock Station.
The properties changed hands from SAWA to CAPH after approvals were obtained from the Foreign Investment Review Board, Pastoral Lands Board and Western Australian cabinet.
CAPH is a new joint venture between a cattle family based in the Kimberley and Chinese investors. South Australia-based agricultural advisory group Agrify assembled the group.
Commenting on the deal, CAPH director and Agrify partner Dale Champion commended the efforts of the Piper Alderman team who assisted with the transaction.
“The team showed unwavering commitment, patience and flexibility throughout what was a landmark transaction for the region and in turn for our investors,” Mr Champion said.
