Swedes want Aussie farms

14 Jun, 2011 08:22 AM
Comments
5
 

THE Swedish National Pension Fund is teaming up with US institutional investor TIAA-CREF to buy farmland in Australia.

TIAA-CREF has already invested in 180,000 hectares of cropping country in Australia through the Westchester Group's $300 million International Agricultural Investors fund, The Australian Financial Review reports.

Teachers Insurance and Annuity Association of America (TIAA) took up a controlling 85 per cent interest in Westchester Group late last year, boosting its agricultural assets to more than $US2 billion ($1.9 billion). It aims to double that over the next three years.

The new joint venture will see the Swedish National Pension Fund's second vehicle, AP2, invest about €177 million ($240.7 million) in the company that will acquire and manage farmland, with a focus on grain production.

The Australian Financial ReviewSource: http://www.afr.com
Date: Newest first | Oldest first

READER COMMENTS

mark2
14/06/2011 2:45:08 PM

I wonder if you are elligible for European Farm subsidy programs for offshore production?
mofac
14/06/2011 8:20:14 PM

Funny how every other country values Australian country to buy, but our own governments could not care that we may not feed ourselves into the future. Another bowl of coal anyone?
macca
15/06/2011 7:56:12 AM

More than likely they see that our Politicians at the stroke of a pen can render a farm worthless in Australia, using the EPA for blighting the farmers and property owners . Philanthropy and Biodiversity Hotspots for International companies for the Carbon Offsets, so they can enjoy life and fruits of work, while we live in a Nation of dont do and cant do. Friends from europe and Canada say they like Australian farms because they have secure land rights.
ME Again
15/06/2011 8:28:36 AM

No complaints over foreign ownership here? Oh - of course, these are all white people...
Rob
15/06/2011 9:06:27 AM

I have no problem with foreign investment, so long as we know what is going on and who owns what. However, this is another example of international parties recognising that Australia will be instrumantal in world food supply in the years to come. Why then do governments, both fedaral and state contiune to under invest in Australian agriculture, whether it be education, research and development, marketing.... the list goes on??? When will we see agriculture at the forefront of politics instead of being made out to be an industry in decline run by out of touch red necks??

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