TREASURER Scott Morrison has kyboshed the $371 million sale of Australia’s largest private landholder, S Kidman and Co, to a Chinese company.
“I have today informed the investor that my preliminary view of the proposal that has been put to me is contrary to the national interest,” he told reporters in Canberra.
Mr Morrison blocked the sale of Kidman for a second time, after he decided to reject a Chinese-led offer in November last year.
Back then, issues were raised around the size of the landholding which includes 10 cattle stations on 101,000sq km.
The close location of Kidman’s Anna Creek station to the Woomera weapons testing range in South Australia was also cited as a concern.
S. Kidman & Co Ltd is Australia’s largest private property and one of the nation’s biggest beef producers with a herd of 185,000 cattle. The company has pastoral leases covering 101,000 square kilometres in three states and the Northern Territory. Kidman cattle stations produce grass-fed beef for export to Japan, the USA and South East Asia.
The Kidman portfolio is the largest private land holding in Australia covering about 1.3 per cent of the nation’s total land area, and 2.5 per cent of its agricultural land.
Even after the excision of Anna Creek and The Peake properties, Kidman would still be Australia’s largest private land owner and hold over one per cent total land area, and two per cent of agricultural land.
“I have today informed the investor that my preliminary view of the proposal that has been put to me is contrary to the national interest,” he told reporters in Canberra.
Mr Morrison blocked the sale of Kidman for a second time, after he decided to reject a Chinese-led offer in November last year.
Back then, issues were raised around the size of the landholding which includes 10 cattle stations on 101,000sq km.
The close location of Kidman’s Anna Creek station to the Woomera weapons testing range in South Australia was also cited as a concern.
S. Kidman & Co Ltd is Australia’s largest private property and one of the nation’s biggest beef producers with a herd of 185,000 cattle. The company has pastoral leases covering 101,000 square kilometres in three states and the Northern Territory. Kidman cattle stations produce grass-fed beef for export to Japan, the USA and South East Asia.
The Kidman portfolio is the largest private land holding in Australia covering about 1.3 per cent of the nation’s total land area, and 2.5 per cent of its agricultural land.
Even after the excision of Anna Creek and The Peake properties, Kidman would still be Australia’s largest private land owner and hold over one per cent total land area, and two per cent of agricultural land.
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