Jarden lifts NZ Rural Land target price after new Aussie fund deal

NZL owns nearly 15,000ha, mostly dairy farms in the South Island, as well as 3,100ha of forestry in the North Island. (Image: NZ Rural Land)

Riley Kennedy

Tue, 23 Jan 2024

Jarden has lifted its target price for New Zealand Rural Land Company, saying it is likely to go back to investors for equity after cash from its new tie-up is used.The rural landlord announced last week it was selling 25% of its portfolio to an Australian investment fund for roughly $44.2m.Its assets, except for its cash, will move into a limited partnership, leaving the NZX-listed company holding 75% and the balance owned by the fund managed by Roc Partners.Allied Farmers’ New Zealand Rural Land Management Limited Partnership will conti...

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