A half share in one of the country's largest corporate farmers has been put on the market.
New Zealand Pastures Ltd, which trades as Greenfield, owns seven farms in Otago and Canterbury with a combined land area of 23,500 hectares.
The company is 50% owned by a Dutch pension fund, with the other 50% held by a variety of institutional and private investors, including Rangatira Ltd which owns a 8.7% stake and several overseas owners based in locations such as the Virgin Islands, Jersey and the Cayman Islands.
The Dutch pension fund wants to retain its 50% stake but the other smaller shareholders have decided to sell and a single buyer is being sought for their combined 50% stake.
The company owns seven sheep and beef farms ranging in size from 958 hectares to 7533 hectares with a combined value of more than $100 million.
The sale is being handled by Greg Anderson of Northington Agricapital and Shane O'Brien of Colliers International.
"Unlike the dairy industry, red meat is facing a better time and good, well managed farms continue to generate attractive returns," Anderson said.
"The scale of this offering makes it unusual and we believe it will appeal to long-term investors looking for value add opportunities," he said.
The shareholders who had decided to sell had enjoyed strong returns and we looking for new opportunities, he said.
The company is aiming for annual cash yields in the 4% to 5% range.
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