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SALE OF SIGNIFICANT COTTON AGGREGATION |
- Sale of the Kia Ora cotton aggregation.
- The Kia-Ora Cotton Aggregation located in St George, Queensland, Australia, is a major cotton farming operation covering a total area of about 18,845 hectares.
- Kia-Ora was aggregated and developed extensively by the Graham family over a 12 year period from 1994 to 2004.
- The property includes 8,898 hectares of developed hectares available for irrigated cotton and 1,910 separate hectares for the production of dryland wheat.
- Kio Ora has considerable water entitlements with 7 pumping stations on the Balonne River, all-weather roads, overflow channels and large storage dams with capacity in excess of 145,000 ML
- Kia-Ora is regarded as one of the premium cotton developments in Australia due to its size, lay-out, location, yields, quality of infrastructure, water entitlements and outsourcing model of management.
- IFL was engaged to sell the property and cotton growing business through a competitive tender process;
- The project resulted in the sale of Kia Ora to a consortium that included Australian and international investors.
- The sale process was run during difficult times in the industry amid long-term drought conditions and depressed cotton prices. The process took over 12 month to complete.
- The property and business was sold for in excess of A$60m
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