NAPCO attracts no “acceptable proposal” from buyers - leatherbiz: Lead Leatherbiz

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NAPCO attracts no “acceptable proposal” from buyers

05/11/2013
Reports in Australian media have said that one of the country’s biggest packer groups, the North Australian Pastoral Company (NAPCO), has changed its mind about looking for a buyer to take over the business.

NAPCO operates 13 cattle stations across Queensland and the Northern Territory and has a herd size of around 200,000 head

After the owners said they would listen to offers for the business, a range of global agribusiness players, as well as US-based pension funds, equity firms and overseas government-owned companies, expressed an interest.

However, on November 5, NAPCO said in a statement to the stock exchange that no acceptable proposal had emerged and that the controlling shareholder, the Tasmania-based Foster family, was no longer looking for a buyer.



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