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 Australias 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 Kidmans 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 Australias largest private land owner and hold over 1 per cent of Australias total land area, and 2 per cent of Australias 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 ...
Related to Nicole?
No, there may be a distant relationship, but certainly nothing close.
This much land for under a billion dollars? That’s crazy!
As the "church lady" on SNL used to say, "how conveeenient!"
That's the type of land you are looking at.
I was thinking about what’s under the land, so since mineral rights are not included, the price does make much better sense.
Great news! Now I can buy it.
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