A farming group has raised concerns about the potential sale of one of Australia’s largest fertiliser manufacturers to foreign interests.
Incitec Pivot last month confirmed it had received approaches to buy its fertiliser business, worth a reported $1.5 billion. Media reports suggest Indonesian government-backed fertiliser giant Pupuk Kaltim is the preferred bidder.
Grain Producers Australia chief executive Colin Bettles said: “We would expect that the FIRB (Foreign Investment Review Board) would go through a rigorous and thorough process to assess whether or not this (sale) is contrary to Australia’s national interests.
“And we would expect that farmers would be at the forefront of that discussion.”