Farmland, News Desk

Bidding Heats Up for Australian Cattle Kingdom

Australia’s wealthiest citizen, Gina Rinehart, and a Chinese real estate conglomerate have joined forces to tender an A$365 million bid for a 39,000-square-mile collection of cattle operations that encompasses more than one percent of Australia’s total land area. S. Kidman & Co. carries 185,000 head, which are exported to Southeast Asian markets, Japan, and the United States. According to the Australian Broadcasting Corporation, however, Hancock Prospecting and Shanghai CRED’s offer may soon be bettered by a syndicate of four families that raise and/or transport cattle. Rival bidder BBHO includes South Australian Tom Brinkworth, West Australian Sterling Buntine, Malcolm Harris from New South Wales, and Viv Oldfield from Alice Springs. In addition to exceeding Rinehart’s bid by an estimated A$20 million, the BBHO offer would not require Australian foreign investment approval or regulatory clearance by Chinese authorities whereas the joint venture company, 67 percent owned by Hancock Prospecting and one-third owned by Shanghai CRED, would.
Click here to read more.
Photo Credit: ABC News: Kerry Straight

Please sign me up to receive breaking news and updates from The Land Report:
Print & Gift
Subscriptions Available



Farmland Values Remain Robust

Surveys in Nebraska, Illinois, Indiana, and Iowa show strong, steady farmland values according to Successful …


Land Report 2017 Legacy Landowner: Ted Turner

Like the North Star above his beloved Flying D Ranch, our 2017 Legacy Landowner has …