* South Australia - Lindsay Fox in late counter offer on Kidman
-- Transport magnate Lindsay Fox has launched a late bid to keep Australia’s largest outback cattle empire in Australian hands, with an offer to buy the S. Kidman... The Weekend Australian reported that Mr Fox, one of Australia’s largest employers through his Linfox logistics network, had written to Treasurer Scott Morrison flagging his interest in buying the Kidman properties – despite being close to being sold in a deal said to be worth close to $300 million giving control to Chinese-owned Shanghai Pengxin Group Co... In November the Federal Government announced that it had vetoed the sale of Australia's largest land holding to Chinese buyers. The decision followed a recommendation against the sale by the Foreign Investment Review Board... Parts of one of Kidman's stations, Anna Creek, are located in the Woomera Prohibited Area (WPA) in South Australia. National security concerns played a role in the decision, Mr Morrison said... Linfox’s letter to Mr Morrison said it could offer to buy the Kidman station portfolio in its entirety, including Anna Creek... Shanghai Pengxin’s revised offer excluded Anna Creek from the deal to remove security concerns – at a price said to be reduced from $350m to $300m. The exclusion of Anna Creek also diminishes Kidman & Co’s ‘supply chain’ appeal, however, carefully put together over decades of land dealings... Kidman is Australia's largest private landowner, holding about 1.3 percent of Australia's total land area, and 2.5pc of agricultural land... The company has 10 cattle stations, including properties across regional South Australia, Western Australia, the Northern Territory and Queensland covering 101,411sq km and managing a long-term average herd of 185,000 cattle. This is a significantly larger than the next biggest rural landholding in the country...
(Photo: One S. Kidman's cattle station) -- Anna Creek, SA, Australia - Beef Central - 7 Feb 2016Labels: trucking industry Australia
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