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Author Topic: Aus Graziers Challenge Rhinehart's Bid For Kidman  (Read 268 times)

Icyfroth

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Aus Graziers Challenge Rhinehart's Bid For Kidman
« on: October 20, 2016, 10:31:09 AM »

The first entirely Australian offer for the Kidman cattle empire is due to be lodged this weekend and will be higher than Gina Rinehart's Australian-Chinese bid, a member of the domestic syndicate has told the ABC.

The offer by four of the nation's wealthiest outback cattle and transport families is likely to be around $385 million, more than the joint bid by Ms Rinehart's Hancock Prospecting and Chinese real estate conglomerate Shanghai CRED.

"We intend to put a bid in that will be absolutely competitive [and unconditional]," said West Australian and Northern Territory pastoralist Sterling Buntine, who is a member of the BBHO syndicate.

"It will be more than what the current bid is on the table and we would expect the Kidman board to treat it with due respect."

BBHO is bidding for the entire Kidman business, including the defence-sensitive Anna Creek Station, near the Woomera weapons-testing range.
The South Australian property was excised from the original sale offering after Federal Treasurer Scott Morrison blocked foreign bids for the entire landholding on the grounds of national security.

Other members of the BBHO group are South Australian Tom Brinkworth, Malcolm Harris from New South Wales, and Viv Oldfield from Alice Springs.

The families already own huge chunks of pastoral land in northern and central Australia, Queensland, New South Wales and South Australia, and between them run about 400,000 head of cattle, Mr Buntine said.

http://www.abc.net.au/news/2016-10-20/graziers-challenge-rinehart-with-bid-for-kidman-cattle-empire/7948490

Let's hope Scott Morrison honours their bid and doesn't override it in favour of the Chinese. Like the sale of Van Diemen's Land Dairy earlier.
Sold for $280 mil even though and a cps Aussie groups had also put in a bid.

http://www.abc.net.au/news/2016-01-13/jan-cameron-plans-rival-bid-to-buy-tasmanian-dairy-giant-vdl/7086504


Interesting that Ms Rhinehart has teamed up with a Chinese consortium.
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