SA water minister vows to divest from Macquarie after it buys into cotton giant Cubbie
Written by Lisa Martin
David Speirs warned his shares in the station, located in the Murray-Darling Basin food bowl, could ‘cloud over his decision-making’
South Australia’s water minister has vowed to divest his shares in Macquarie Group to avoid a potential conflict of interest, after the company bought a substantial stake in Australia’s largest cotton farm.
Macquarie Group announced on Friday its agricultural fund had acquired a 49% interest in Cubbie station, located in the Murray-Darling Basin food bowl.
Related: Murray-Darling Basin: water ministers agree to independent umpire to police plan
Related: Photos reveal Queensland cotton farms full of water while Darling River runs dry
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