Sale of cattle farm fails again
03/05/2016
Australia treasurer Scott Morrison gave the consortium, headed by Chinese conglomerate Shanghai Pengxin Group, until May 3 to address the government’s concerns over the A$371 million ($288 million) offer which he says is not in the country’s national interest.
The Chinese group chose to withdraw their offer with Kidman chief executive Greg Campbell branding the timeframe offered by Mr Morrison as “ridiculous.” A previous offer for the cattle company was also rejected by the Australian government in 2015.
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