Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

S. Kidman & Co cattle empire sale to Chinese blocked (1.3% of the Australian continent)
The Australian ^ | 29th April 2016 | Jared Owens

Posted on 04/28/2016 11:46:37 PM PDT by naturalman1975

Treasurer Scott Morrison has made a “preliminary decision” to block the proposed $371m sale of Australia’s largest single landholding, the S. Kidman & Co cattle empire, to a Chinese-led consortium citing national interest concerns.

This is the second time Mr Morrison has blocked the sale of Kidman, rejecting a Chinese-led offer in November amid concerns about the sheer scale of the landholding — 10 cattle stations encompassing 101,000sqkm — and the proximity of Kidman’s Anna Creek station to the Woomera weapons testing range in South Australia.

The investors have been given a “natural justice period” of until next Tuesday to consider how they wish to respond to his preliminary decision.

“Even after the excision of Anna Creek and The Peake properties, Kidman will still be Australia’s largest private land owner and hold over 1 per cent of Australia’s total land area, and 2 per cent of Australia’s agricultural land,” Mr Morrison said.

“Given the size and significance of the Kidman portfolio I am concerned that the acquisition of an 80 per cent interest in S. Kidman & Co Limited by Dakang Australia Holdings Pty Ltd may be contrary to the national interest.”

.....

The sale of the iconic Kidman cattle empire is a divisive issue in Coalition ranks with many members of the Nationals implacably opposed to the sale of such a significant rural asset and large farmland parcel more than twice the size of Belgium, to Chinese owners.

Divisions over the sale have also emerged within the Labor Party, with Bill Shorten last week admitting “uneasy” feelings about the proposed sale. The previous evening, opposition trade spokeswoman Penny Wong cast critics of foreign investment as xenophobes reflecting “unjustified fears fomented by shock jocks”.

(Excerpt) Read more at theaustralian.com.au ...


TOPICS: Australia/New Zealand; Culture/Society; Foreign Affairs; News/Current Events
KEYWORDS:

1 posted on 04/28/2016 11:46:37 PM PDT by naturalman1975
[ Post Reply | Private Reply | View Replies]

To: naturalman1975

Related to Nicole?


2 posted on 04/29/2016 12:57:45 AM PDT by kaehurowing
[ Post Reply | Private Reply | To 1 | View Replies]

To: kaehurowing

No, there may be a distant relationship, but certainly nothing close.


3 posted on 04/29/2016 1:24:52 AM PDT by naturalman1975 ("America was under attack. Australia was immediately there to help." - John Winston Howard)
[ Post Reply | Private Reply | To 2 | View Replies]

To: naturalman1975

This much land for under a billion dollars? That’s crazy!


4 posted on 04/29/2016 3:07:18 AM PDT by winner3000
[ Post Reply | Private Reply | To 1 | View Replies]

To: naturalman1975
"...the proximity of Kidman’s Anna Creek station to the Woomera weapons testing range in South Australia."

As the "church lady" on SNL used to say, "how conveeenient!"

5 posted on 04/29/2016 6:19:10 AM PDT by free-in-nyc (Freeping from the heart of the occupation)
[ Post Reply | Private Reply | To 1 | View Replies]

To: winner3000
The land is mostly pretty barren desert. You can run cattle on it by moving the cattle from waterhole to waterhole as needed but it really is tough land. And freehold and leasehold title in Australia doesn't include mineral rights, so the only value the land has to its owner is what is on top of it, not underneath it.

That's the type of land you are looking at.

6 posted on 04/29/2016 6:30:49 AM PDT by naturalman1975 ("America was under attack. Australia was immediately there to help." - John Winston Howard)
[ Post Reply | Private Reply | To 4 | View Replies]

To: naturalman1975

I was thinking about what’s under the land, so since mineral rights are not included, the price does make much better sense.


7 posted on 04/29/2016 9:11:37 AM PDT by winner3000
[ Post Reply | Private Reply | To 6 | View Replies]

To: naturalman1975

Great news! Now I can buy it.


8 posted on 04/29/2016 11:20:27 AM PDT by minnesota_bound
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson