All-Australian consortium withdraws bid for Kidman
28/10/2016
The BBHO consortium, which included four Australian families, withdrew its bid of A$386 million after a rival group, headed by Australia’s richest woman Gina Rinehart, outbid it by A$500,000.
Ms Rinehart, who joined forces with China’s Shanghai CRED for the bid, said her company, Hancock Prospecting, would be willing to buy the entire Kidman portfolio alone should the Chinese company’s investment not receive approval from the Australian government.
The BBHO consortium congratulated Ms Rinehart’s joint venture.
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