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Australia on Thursday blocked the sale of one of the world's largest cattle
estates to foreign entities, ruling it was not in the national interest with
part of the holdings in a weapons testing area.
S. Kidman and Co Ltd, Australia's biggest private land owner, is on the
market with Chinese companies Genius Link Group and Shanghai Pengxin reportedly
in a bidding war to secure the sprawling pastoral empire for up to Aus$350
million ($249 million).
But amid concerns about valuable agricultural and mineral assets passing into
foreign hands, Treasurer Scott Morrison said he would not authorise any sale to
"Consistent with the recommendation from the Foreign Investment Review Board,
I have decided that the acquisition by foreign investors of S. Kidman and Co.
Limited would be contrary to the national interest and shall not be authorising
the sale to proceed as currently proposed nike air max 2017 kpu
womens uk sale ," he said.
Kidman, founded in 1899, holds around 1.3 percent of Australia's total land
area, and 2.5 percent of the nation's agricultural land. It is a key source of
beef for export to Japan, the United States and Southeast Asia.
The company has 10 cattle stations, including properties across regional
South Australia nike air max 2017 kpu
womens uk , Western Australia, the Northern Territory and
Queensland covering 101,411 square kilometres (39,155 square miles) -- an area
larger than South Korea -- with a herd of 185,000 cattle.
One of them, Anna Creek nike air max 2017 kpu
uk , is the largest single property holding in Australia -- bigger
in size than Israel -- and around 50 percent of its pastoral lease is located in
the Woomera Prohibited Area (WPA) weapons testing range in South Australia.
Morrison said his decision was based on the size and significance