By Fidelis Rego
Posted
Some of the biggest properties on the Queensland-New South Wales border will soon be sold to a US pension fund.
The Toowoomba-based company Prime Ag is selling off its assets and delisting from the stock market.
In a deal worth $125 million, three farms in the Goondiwindi and Gunnedah districts are being sold to TIAA-CREF.
Prime AG chief executive officer Peter Corish says another 40 per cent of the company's assets are still to be sold.
"We are currently involved in positive discussions and negotiations with a number of parties regarding the future of those properties," he said.
"We are ensuring all our employees are well briefed on the situation and particularly those who are part of the transaction with TIAA-CREF."
Topics: agribusiness, company-news, superannuation, toowoomba-4350, goondiwindi-4390
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