For­rest re­veals fo­cus on CBH

Pilbara News - - Pilbara News - Brad Thomp­son

Min­ing bil­lion­aire An­drew For­rest has re­vealed a keen in­ter­est in the fu­ture of a gi­ant WA grains busi­ness worth about $3 bil­lion and con­trolled by more than 4000 farm­ers in the Wheat­belt.

Mr For­rest said last week he had spent a year look­ing at CBH and ways to un­lock its huge value.

Aus­tralia’s big­gest co-op­er­a­tive is sub­ject to a cor­po­rati­sa­tion pro­posal that prom­ises a $1 bil­lion wind­fall for grow­ers and shares in a pub­licly listed com­pany.

“I have looked at CBH and thought is there a path to re­ally de­velop it and give its stake­hold­ers much greater ex­po­sure,” he said.

“I looked at it for about a year and then de­cided there were other, eas­ier fish to catch.

“I think that CBH has a heap of po­ten­tial and if it doesn’t want to be taken over, it is up to the cur­rent lead­er­ship to make sure that po­ten­tial is max­imised for cur­rent stake­hold­ers.”

Mr For­rest, speak­ing at a WA Farm­ers con­fer­ence, said Aus­tralian agribusi­nesses needed to act col­lec­tively to max­imise their op­por­tu­ni­ties in China and other ex­port mar­kets.

An­drew For­rest

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