Treasurer Blocks Kidman Sale to China 2nd Time

[icyfroth]

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.

http://www.news.com.au/finance/business/other-industries/treasurer-scott-morrison-blocks-the-sale-of...

It'll be interesting to see who finally gets it.

[kopenhagen5]

Good.

I believe Lindsay Fox was putting in an offer.

371 mil seems awfully cheap.

[esayaf]

Funny how nobody has actually ever raised the fact that no one but the Queen of England is the only land owner in this country. Buy whatever you want. At no stage do you actually own it. You pay for the privilege of use not ownership. Last time I looked England is not part of Australia. Where is the outrage. More of Australia is in the hands of an overseas owner and always has been.
How is the greed of Lyndsay Fox any more deserving than that of an overseas investor. Most of his money heads overseas too. Where do you think all his trucks come from.
This is one world. We are all in this together. So many here can't see the hypocrisy of loving the internet and it's whole world connection but wanting to remain separate to the world with everything else. Typical have cake and eat it too mentality.

[lind9650]

A few years ago I read the book "Kidman the Cattle King."

Most interesting and educational piece of history. I was reading the book with a map of Australia on the table.

May go to the Library and get the book again.

Erica

[serendipityricho]

Yep Erica -a man with a vision.

The way he moved cattle  to properties he owned in three states 

during times of drought .

Using the ..long paddock on the way.................................................Richo.

[kopenhagen5]

We are definitely only caretakers while on earth but I personally believe the Foxes having the property is far better then the Chinese, for Australia that is. 

[kopenhagen5]

Kidman property looking for crowd funding.

https://www.domacom.com.au/kidman-station-bookbuild/

[lind9650]

Thank you Kopes.

I wish I had the money to invest in this venture.

Erica

[myoclon1cjerk]

Nicole must be fuming.

[chameleon54]

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@esayaf wrote:
Funny how nobody has actually ever raised the fact that no one but the Queen of England is the only land owner in this country.  Is that right ????  It could well be true for properties that are leasehold, which the Kidman properties may well be, but I doubt that it applies to Torrens title properties which would constitute the major property by value in Australia, if not by size.  I don't claim to be an expert in property law though.

Buy whatever you want. At no stage do you actually own it. You pay for the privilege of use not ownership. Last time I looked England is not part of Australia. Where is the outrage. More of Australia is in the hands of an overseas owner and always has been.
How is the greed of Lyndsay Fox any more deserving than that of an overseas investor. Most of his money heads overseas too. Where do you think all his trucks come from.
This is one world. We are all in this together.

In an ideal socialist society that would be true. Unfortunately we don't live in an imaginary, socialist Utopia, we live in the real world where communist, capitalist and even tribal societies all try to co-exist. As Australians, collectively we have chosen to follow the capitalist system. This means we should try to retain ownership of our land as this is the ultimate generator of our standard of living. Sell it off to another country and a little bit of our living standards for eternity goes with it. Sell enough of it off and we will be economic slaves to another sovereign country. And that means ecenomic poverty for all and no welfare payments for Australians who genuinly need them.

So many here can't see the hypocrisy of loving the internet and it's whole world connection but wanting to remain separate to the world with everything else. Typical have cake and eat it too mentality.

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