Mauritian fund eyes WA wheat farms

31 Jan, 2011 09:45 AM
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A LISTED entity from Mauritius is teaming up with an Australian operator to buy and manage choice Australian wheat farms.

JPT Capital Agrifund seeks to raise £50 million ($80 million) to buy marginal wheat farms, predominately in Western Australia. It has employed Corporate Agriculture Australia to select, buy and manage the farms.

The properties will be bought and operated for eight to 10 years, then sold with the full proceeds distributed among unitholders, according to The Australian Financial Review.

The Australian Financial ReviewSource: http://www.afr.com

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