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Report: Macquarie in A$300M Australia farmland deal with Qatari wealth fund

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Report: Macquarie in A$300M Australia farmland deal with Qatari wealth fund

Macquarie Group Ltd., through its agricultural unit, is understood to be nearing a deal to purchase more than 100,000 hectares of farmland from a company owned by Qatar's sovereign wealth fund for nearly A$300 million, The Australian Financial Review reported.

The sale of Hassad Australia Pty Ltd.'s remaining farm assets in New South Wales, Victoria and Western Australia is primed to be the largest in the country since 2016, according to the Sept. 2 report.

Qatar Investment Authority will reportedly become an investor in the Macquarie fund that will hold the Hassad assets, adding that Paraway Pastoral, the buyer's main agricultural management company, could split the assets into its livestock fund and grain and cropping fund.

Macquarie and Hassad declined to comment on the transaction, according to AFR.