All the “I’s” have been dotted and all the “T’s” crossed on a deal which allows the largest farmland portfolio, as measured by acres, in the country to change hands.
The previously announced deal between the Assiniboia Farmland Limited Partnership and the Canadian Pension Plan Investment Board was wrapped up on Friday.
The deal sees Assiniboia sell all of its farmland portfolio, which consists of 115,000 acres of farmland throughout Saskatchewan for $128,000,000 CAD.
Under the terms of the agreement the existing management team at Assiniboia, based in Regina, will continue to manage the portfolio.
In a statement, President Doug Emsley said, “This sale brings to completion a plan established in 2005 – to build a large portfolio of farmland in Saskatchewan for sale to a large Canadian institutional investor. Now this portfolio is effectively owned by Canadians for the benefit of all Canadians.”
The deal was previously announced in mid-December.
For more on the deal click here.