Paraway includes Cubbie Station among 28 pastoral businesses.The Australian | 9 April 2026Global giants circle $3bn Australian farming empire Paraway Pastoral
Global investment giants have submitted multiple bids for Australia’s $3bn Paraway Pastoral empire, and its vendors are assessing offers for the 4.4 million hectare agricultural business.
by Bridget Carter
Multiple bids landed last week for Paraway Pastoral, the $3bn agricultural empire being sold by Macquarie Group and Dutch fund APG.
Sources suggested strong demand from both domestic and offshore groups for parts and all of the business.
Nuveen Natural Capital and Canadian pension funds PSP Investments and OMERS were earlier named as likely contenders for the business, which spans 4.4 million hectares across beef, sheep and cropping operations.
Interest had earlier also emerged from the Abu Dhabi Investment Authority. The vendors are now assessing the offers over the next two weeks.
Terra Firma, owner of Consolidated Pastoral Company, is believed to be interested in acquiring the entire business.
PSP Investments is understood to be among the Canadian pension funds that may look. Other potential buyers for grain assets include the Bell family of Bell Potter and New Forests.
Paraway, which made $115m in cash earnings before interest, tax, depreciation and amortisation in 2025, includes Cubbie Station among 28 pastoral businesses.
The three main components of value are water, livestock and land, with land accounting for the bulk of the price tag.
The Iran conflict has disrupted global fertiliser supply chains, but sources close to the process have played down the impact of high prices on the sale given the diverse nature of the beef, sheep and cropping business.
