Australia blocks sales of largest cattle farm to Chinese
19/11/2015
The property of S. Kidman & Co includes 11 cattle stations and a feedlot, 200,000 head of cattle and more than 100,000 sq km of land.
A Chinese group emerged as the highest bidder with around $350 million on the table, but the treasurer of Australia’s Foreign Investment Review Board, Scott Morrison, said the deal would not be in the country’s best indenters. One of the cattle stations is on land used for weapons testing.
There has been a swath of investment in Australia’s cattle sector by Chinese groups over the past few years, including the sale of the Wollogorang and Wentworth stations to Chinese billionaire Xingfa Ma in July.
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