Rural Funds Group: Buys sugar cane farms for $81.1M
- Rural Funds Group (RFF) has purchased sugar cane farms in Maryborough, Queensland from MSF Sugar for $81.1 million
- The farms equal to a total of 5409 hectares and come with associated plant and equipment
- Around 2200 hectares of this land will converted into a macadamia orchard farm, with the majority of the remaining land being used for cropping
- Then the settlement expected to occur in October 2020
- Rural Funds will also offer a two-year off-take agreement to the farmers who are currently operating cane farms
- On the market close, Rural funds is down 0.49 per cent and trading for $2.03 per share
