Australia’s largest landholder, S Kidman & Co, has agreed to sell the company to China’s Dakang Australia Holdings and the locally listed Australian Rural Capital Ltd for $370.7m, The Guardian reports. Under the deal, Dakang Australia plans to acquire 80% of Kidman while ARC is looking to take the remaining 20% stake, subject to approval by the Foreign Investment Review Board. Kidman, which has cattle stations covering 101,000 square kilometres in Queensland, South Australia, Western Australia and the Northern Territory, produces grass-fed beef for export to Japan, the US and south-east Asia.
Categories