Australian farmers pull bid for S. Kidman & co – ABC

28 October, 2016 | Australia News
Australian mining heiress and Chairman of Hancock Prospecting group Gina Rinehart at the Australian Synchronised Swimming Championships in Sydney, Australia, April 25, 2015. (Photo: Reuters)

Australia‘s richest woman Gina Rinehart and a Chinese partner look nearer to winning their bid for the country’s largest private land holding, after a group ofAustralian cattlemen withdrew their bid, media reported on Friday.

The Australian Broadcasting Corporation said a rival A$386 million bid by four of Australia‘s wealthiest outback cattle families had been withdrawn.

Rinehart and Chinese developer Shanghai CRED had this week increased its bid to $386.5 million.

The fate of S. Kidman & Co, which runs cattle and pastoral activities on tracts of land the size of South Korea, has been a lightning rod for concerns about the sale of Australian agriculture and other key assets to foreign investors.

 

– Reuters