Australia’s richest woman part of latest Kidman bid
11/10/2016
It is the latest in a series of bids for the company, which controls ranches spanning
more than 100,000 sq km (25 million acres) of land and carrying about 185,000 cattle. Previous Chinese-led attempts to purchase it have been blocked by the Australian government, who says the sale of Kidman to foreign investors is not in the national interest.
The joint bid, which is worth A$365 million ($276.8m), would see Hancock Prospecting hold 67% of the business, with the rest going to Shanghai CRED.
Barnaby Joyce, Australia’s Agriculture Minister, welcomed the bid from an Australia-led consortium, saying most Australians would prefer the country’s most important assets to remain under domestic control.
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