Assets Accumulation

Chris Corrigan (Kaplan Director/major NAM shareholder) now getting busy via Bengerang for Cotton assets - wonder if he has a bigger consolidation play in mind re. NAM.....


"BENGERANG Ltd, the newly named PrimeAg Australia, has contracted to buy the Buster family's Darling Farms property in Bourke, NSW, for less than $40 million.
Bengerang's directors and investors include legendary logistics businessman Chris Corrigan and one of Australia's leading farming entrepreneurs, Australian Food & Fibre executive chairman David Robinson.
"The sale includes the Darling Farms cotton assets and the North Bourke Cotton Gin. The buyer is an Australian company associated with Australian Food and Fibre Limited, which has extensive interests in cotton farming and other primary production."Sale could lead a charge
Darling Farms, which was banked by Rabobank, includes three adjoining irrigated holdings of 14,676 hectares. It can store 38,000 megalitres of water. Its neighbours, former Clyde Agriculture properties Beemery, Janbeth and Latoka, were sold to Peter Harris for up to $50 million in April.
The farm is the largest cotton operation to be sold this year and will likely trigger other major cotton property vendors to consider selling."