Cent Stake: On-Property Management and Cubbie Station

cent stake: Textile firm Shandong Ruyi will retain 51 per cent of Cubbie and operate the 93,700-hectare farm with no change to the current on-property management, including the station's 42 staff, according to Nine News Australia. Macquarie Group says it is buying in to one of Australia's premiere agricultural assets in taking a 49 per cent stake of Cubbie station. 9News Ruyi had promised the Australian government in 2012 that its purchase of an 80 per cent share in Cubbie for 232 million would be cut to 51 per cent within three years. To improve your experience update it here News National Bank buying part of Australia's 'premiere agricultural assets'By AAP9 49pm Aug 2, Group has taken a 49 per cent stake in the giant Queensland cotton operation Cubbie Station from the farm's Chinese majority owner. Then-treasurer Scott Morrison granted an extension in mid-2016. The joint ownership agreement provides certainty of ownership of Cubbie, supporting the local communities of Dirranbandi, St George and surrounding districts, the companies said in a release. Macquarie and Ruyi said on Friday the new co-ownership deal satisfied the Chinese company's undertaking to the Foreign Investment Review Board. (news.financializer.com). As reported in the news.