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LONDON (Alliance News) - MP Evans Group PLC on Thursday noted media reports about the North Australian Pastoral Co and said it is continuing to review its holding.
The Australian Financial Review reported on Thursday the Queensland Investment Corp was in talks to acquire Northern Australian Pastoral, which owns and operates cattle stations across Queensland and the Northern Territory. The report suggested the sale could be worth around AUD400.0 million.
MP Evans, which holds a 34% stake in the company, said North Australian Pastoral is its sole investment left in Australia and is is reviewing any potential strategic opportunities on the holding, including a possible sale.
Shares in MP Evans were up 6.3% to 440.00 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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