Buntine buys CPC's Comely Station

Sterling Buntine buys CPC's Comely Station

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Sterling Buntine's Baldy Bay company has bought the Consolidated Pastoral Company properly Comely Station.

Sterling Buntine's Baldy Bay company has bought the Consolidated Pastoral Company properly Comely Station.

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Sterling Buntine's Baldy Bay company has bought CPC's Central Queensland properly Comely Station.

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STERLING Buntine's Baldy Bay company has struck again, buying Consolidated Pastoral Company's Comely Station, a 23,000 hectare (56,834 acre) holding in Central Queensland.

Baldy Bay previously bought Mimong from CPC, a 79,970 hectares (197,610 acres) property at Kynuna, with a 9000 head carrying capacity.

Comely Station is an aggregation made up of Comely and Mapala stations in the Bauhinia district.

The sale price has not been disclosed. However, the sale included plant and equipment.

CPC chief executive Troy Setter said Comely and Mimong were two of CPC's smaller properties.

"Their sale will not have much of an impact on the scale of the CPC portfolio," Mr Setter said.

"CPC will still have one of the biggest pastoral holdings in Australia, comprising 3.8 million hectares of land across 10 stations with a carrying capacity of almost 326,000 head of cattle.

"We continue to be actively engaged with buyers interested in the CPC platform as a whole and in parts."

"Our geographically diverse portfolio positions the business well in the current market and season and we continue to benefit from strong demand dynamics for beef and the strong performance of our Indonesian supply chain and investments in our properties, genetics and team."

CPC also has a 90pc interest in a joint venture which owns and operates two feedlots in Indonesia.

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