Australia’s Macquarie Group buys 49% stake in Cubbie Station from China's Ruyi

Australia’s Macquarie Group buys 49% stake in Cubbie Station from China's Ruyi

FILE PHOTO: A pedestrian stands near the logo of Australia's biggest investment bank Macquarie Group Ltd which adorns a wall on the outside of their Sydney office headquarters in central Sydney, Australia, July 18, 2017. REUTERS/David Gray

Australia’s Macquarie Group (MQG.AX) has purchased a 49% stake in cotton farm Cubbie Station, one of Southern Hemisphere’s largest irrigation farms, from its majority owner Chinese conglomerate Ruyi Group (002193.SZ), according to local media.

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