Largest Cattle Operation in World to go to Chinese Buyer

S. Kidman and Co has named a new Chinese-Australian consortium as the preferred buyer for most of its iconic cattle station holdings.  The sale cannot proceed without the approval of the Foreign Investment Review Board (FIRB) and the Treasurer Scott Morrison, who has extended the time available for his consideration of the sale beyond the expected July election. South Australia's Anna Creek Station, which is adjacent to the rocket testing range at Woomera, is not included in the sale. The value of the deal is $370.7 million. In a statement released on Tuesday afternoon, Kidman announced it has entered into an agreement with a consortium lead by Dakang Australia Holdings and the ASX-listed Australian Rural Capital (ARC). Under the proposal, Dakang would take an 80 per cent stake in the sale, with ARC taking 20 per cent.