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Queensland Investment buys 80% of cattle station firm Napco

( May 6, 2016, 05:10 GMT | Insight) -- State government-owned Queensland Investment Corp has acquired an 80 percent stake in cattle station operator North Australian Pastoral Co, or Napco, in a deal estimated to be worth more than A$400 million ($299.1 million), the Australian Financial Review reports. State government-owned Queensland Investment Corp has acquired an 80 percent stake in cattle station operator North Australian Pastoral Co, or Napco, in a deal estimated to be worth more than A$400 million ($299.1 million), the Australian Financial Review reports. Privately-owned Napco is one of Australia’s largest cattle companies, with 13 properties in Queensland and the Northern Territory, while Queensland Investment Corp is one of the country's biggest institutional investors, with over A$78 billion managed in a global portfolio of infrastructure, private equity and real estate projects. The deal has given the farming sector a confidence boost following the federal treasurer’s recent blocking of China-owned Dakang Australia’s bid to acquire S. Kidman & Co for A$370 million. ...

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