Wellard shipping assets attract strong interest from Brazil and Saudi

December 12
9:33 PM 2013

Wealthy investors from Saudi Arabia and Brazil are eyeing the shipping and land assets of Australia's livestock export giant Wellard Group, according to industry insiders. The said assets have been shopped around by advisors after it incurred a $53-million loss this year, according to Business Spectator.

Wellard Group is one of the biggest live sheep and cattle exporters in the world. The conglomerate's two biggest shareholders are UK's Standard Chartered bank's equity arm and Balzarini family of Perth, the report said.

A bid from a Brazilian investor would be logical, said Business Spectator, In 2007, Brazilian beef giant JBS, the world's biggest meat firm, took over Australia Meat Holdings (AMH), Australia's largest beef processing firm, the report explained.

An unnamed industry veteran said: "It would make sense, given Brazil already controls 30 to 40 per cent of abattoirs in the country through AMH."

Wellard is drawing interest from investors with access to money and markets but not to boats, Business Spectator reported.

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