Hassad in strategic deal with Australia firm Mira
September 17 2018 11:02 PM
Hassad CEO Mohamed bin Badr al-Sadah
Hassad CEO Mohamed bin Badr al-Sadah

QNA/Doha

Hassad, Qatar’s premier investor in food and agribusiness sectors announced on Monday, that it continues the strategic repositioning of its Australian agricultural investment activities by securing an agreement, which will see the transition of Hassad’s investments to Macquarie Infrastructure and Real Assets “Mira” agricultural portfolio.

This decision is in line with Hassad’s strategic review, and achieves its objective to broaden its agricultural investments across a significantly larger and more diversified Australian farming portfolio, according to a statement issued yesterday in Doha.

Hassad CEO Mohamed bin Badr al-Sadah said: “Under this agreement, Hassad Australia’s portfolio will be merged with Mira’s agricultural portfolio. This investment will enable Hassad to maintain its long-term commitment to Australian primary production. It also allows Hassad to continue to benefit from the agricultural sector’s favourable thematics”.

Al-Sadah added, “This agreement will also reinforce Hassad’s strategy, aimed at supporting the country’s food security efforts. Thus, Hassad will supply the local market with meat products in case of shortage or need”.

The transition of the significant majority of farms to Mira’s agricultural portfolio is expected to be completed before the end of this month.

As for the on-farm management teams on the properties, they will be offered continued employment. Mira’s agricultural business will continue to build its regional footprint and invest in those communities in which it operates, creating further employment opportunities in its key regional offices in Albury and Orange.

Mira has a strong track record in Australian agriculture, farm management and commodity production, having built and managed its agricultural portfolio for more than 10 years. It manages more than four million hectares of farmland across Australia and is one of the country’s largest diversified farmers, providing Hassad with access to significant scale and expertise to enhance its future growth.

“Hassad, is committed to invest in Australia and will continue investing in this market in line with new strategy to explore more down streams opportunities. Hassad sees Mira as a long-term partner and hopes to do more business with them in the future,” the statement added.

Last updated: September 17 2018 11:19 PM


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