Jun 24, 2018 Last Updated 1:01 PM, Jun 14, 2018

New Entry From the Editor :

Australian billionaires Rinehart and Forrest put Atlas Iron in spotlight with share deals

Australian billionaires Rineha…

AusBN - Gina Rinehart’s Redstone Corporation has reportedly purchased...

Australian GDP growth rate hits two year high on increasing mining exports

Australian GDP growth rate hit…

AusBN - Australia’s GDP growth rate has reached a two year high of 3...

Fortescue to construct $1.7 billion mine as WA approaches fresh mining boom

Fortescue to construct $1.7 bi…

AusBN - Fortescue Metals Group has confirmed it will build a new large-scal...

Government could block cattle holdings sale

Cattle 1AusBN – Australia’s federal treasurer Scott Morrison says the government will block the sale of cattle holdings S. Kidman & Co. if it is to foreign buyers.

It is understood that eight national and international bidders have been shortlisted, including two Chinese companies whose bids exceed $350 million.

The Kidman family and their facilitators Ernst and Young have been careful not to reveal any details about the sale of Australia’s largest cattle property portfolio thus far.

Morrison said that selling the properties to foreign buyers would be against the national interest.

“The parcel of land that we’re talking about is some 1.3% of Australia’s landmass, some 2.6% of the agricultural land in this country,” he said.

“The Foreign Investment Review Board, as well as the other agencies that were consulted, have made recommendations in this respect which I’ve been pleased to accept.

“We welcome foreign investment, but as treasurer I will always make sure that the investment is done in Australia’s national interest.”

@AusBNonline

This Month's Issue

v3i2 cover web

Subscribe

rgn web banner

abn web banner