Australian Farm Portfolio Selling for $590 Million world properties |

Private equity giant TPG is planning to sell 56 farm properties of Australia's largest poultry firm, for up to A$650 million ($590 million), according to media reports.

TPG purchased most of Ingham Enterprises for A$880 million, Reuters reports. Despite an improvement in market conditions, TPG would sell the assets without public listings.

"We've got all the largest pension funds and sovereign funds in the world expressing interest," CBRE agribusiness director Danny Thomas, who is responsible for the sale, told Reuters.

The purchase deal would include a 20-year leaseback of two portfolios that include plants, feed mills, hatcheries, and breeder farms, the newswire reports. Investor interest in Australian food manufacturers has picked up in the past couple of years because of increasing sales and strong cash flows.

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