Australia – based Rural Fund Management (RFM) plans to merge its Chicken Income Fund with its wine and property assets to create a single $115 million listed fund. The new fund would generate revenue from owning and leasing agricultural assets instead of owning and operating them. However, a group of dissident investors called Sunset Amber Investments is seeking an injunction at the Victorian Supreme Court and has made a $46 million bid for RFM’s poultry assets. RFM was reportedly preparing to revalue the three fund’s assets prior to an investor vote and launch on the Australian Securities Exchange next month as Rural Funds Group.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free bi-weekly enhanced eNews service