Where's the beef?

Terra Firma, headed by mercurial boss Guy Hands, is well known for making investments that others might see as unorthodox. But the London-based buyout firm may still have surprised a few people with the news that is currently negotiating the purchase of a 90 percent stake in Consolidated Pastoral Company (CPC), a Northern Territory, Australia-based owner of 17 cattle ranches.

The Australian Financial Review newspaper reported that any deal would be worth around A$425 million (€216 million; $280 million) and would allow Terra Firma, which has no shortage of capital under management, to add 300,000 cattle under management. CPC primarily caters for demand for high quality beef cattle from Southeast Asia.

The deal is being negotiated with current owner James Packer, son of Australian media mogul Kerry Packer. He is reported to be selling off his cattle interests in order to focus on gambling assets.