Australia blocks massive farmland sale
This post was originally published on this siteAustralia blocks sale of enormous Kidman farmland holding
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19 November 2015
- From the section Australia
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Anna Creek Station is the world’s largest cattle station and is the size of Belgium
Australia’s government will block the sale of the country’s largest private landholding to foreign investors.
S. Kidman & Co has pastoral leases covering 100,000sq/km – an area bigger than Ireland.
Two Chinese companies, Genius Link Group and Shanghai Pengxin, were reportedly engaged in a A$350m ($249m, £164m) bidding war over the holdings.
Selling the company would be against the national interest, Australian Treasurer Scott Morrison said.
Part of the property is inside the Woomera Prohibited Area (WPA), a military weapons testing range in South Australia.
“The WPA weapons testing range makes a unique and sensitive contribution to Australia’s national defence and it is not unusual for governments to restrict access to sensitive areas on national security grounds,” Mr Morrison said.
“It would be contrary to Australia’s national interest for a foreign person to acquire S. Kidman & Co in its current form.”
S. Kidman & Co’s landholding encompasses 1.3% of the Australian continent. It also contains the world’s largest cattle station, Anna Creek.
Prospective buyers from around the world have been forced to withdraw their bids.
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Source: http://middleastpost.com/australia-blocks-massive-farmland-sale/
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