Macquarie Group acquires 49% stake in Cubbie Station from Ruyi.

Macquarie Group, a leading alternative asset manager acquires 49% stake in Cubbie Station, one of Southern Hemisphere’s largest irrigation and cotton farms from Shandong Ruyi, one of China’s largest textile manufacturers. Financial terms were not disclosed. The agreement provides a stable and long-term ownership structure, providing continuity of employment for Cubbie’s 42 employees and supporting local communities in Dirranbandi, St George and surrounding districts. "Under Ruyi’s ownership Cubbie has demonstrated a practice of active management of critical flows to benefit the environment and downstream users, so it’s very pleasing to find a like-minded partner in MIRA." Paul Brimblecombe, Cubbie CEO.