Australia-English takeover of cattle stations complete.

UNITED KINGDOM-ACQUISTION OF AUSTRALIAN CATTLE STATIONS COMPLETE.

Terra Firma has made significant private equity news with the announcement that it has acquired a 90 per cent interest in Consolidated Pastoral Company (CPC).

CPC is the second-largest beef producer in Australia and has 300,000 cattle on its five million hectares of land.

Ken Warriner, the company’s chief executive, will continue to own the remaining ten per cent interest.

Commenting on the acquisition, Mr Warriner said he is "please to welcome Terra Firma on board".

"They have an excellent track record of investing in businesses for the long-term and are committed to the continued success of CPC," he said.

Completion of the acquisition is due to occur in the middle of next month after all regulatory approvals were granted.

Terra Firma announced last week that Tim Pryce had become the private equity group’s new chief executive.

The previous chief executive, Guy Hands, has assumed the new role of group chairman and chief investment officer.

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