TENDERS to buy Australia's largest irrigator, the controversial Cubbie station in south-west Queensland, have been lodged and there are several bidders.
The Australian Financial Review says it has learned that Eastern Australia Agriculture has put in a bid for the entire operation of the Cubbie Group.
Eastern Australia Agriculture, which emerged last year as the $61 million buyer of the large-scale cotton property Kia Ora near Cubbie station, confirmed the tender offer but made no further comment.
The sale process, which could net up to $450 million, comes as the owner, Cubbie Group, tries to lower its debt after breaching banking covenants with National Australia Bank and Suncorp.
Cubbie Group chairman Keith De Lacy said the sale process managed by Jones Lang LaSalle had resulted in several tenders.
The Federal Government is not among bidders for Cubbie.
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