A US-listed company led by Bert Glover will take ownership of AFA's Iconic property portfolio, if the $780m deal is given the green light by the Australian government’s Foreign Investment Review Board.

The acquisition includes Merino sheep stations Boonoke and Wanganella, Burrabogie, Kolora, Wahwoon and Mulberrygong properties and the Baratta, Peppin­ella, Warriston and Zara properties.