The Australian Government is now in power say they will not sell their animals to foreign businesses. The statement issued by the Australian Finance Minister Scott Morrison, Wednesday (4/5), after thwart the takeover of livestock by a consortium led by China.
Dakang Australia Holding based in China, on Tuesday (3/5), said canceling the bid to buy a 80 percent stake S. Kidman & Co. Ltd., the largest private livestock in Australia, after Morrison, last week, announced that the preliminary evaluation results indicate that the sale was against the national interest.
Morrison said, Wednesday (4/5), the main reason he opposed the sale worth 284 million dollars it is because farm land offered to buy it too broad. Kidman has 10 farm land area of more than 101 thousand square kilometers or larger than South Korea or a country nearly the size of the state of Virginia in the United States.
Morrison said the company established livestock renowned businessman Sir Sidney Kidman in 1899 it may be sold to a foreign party if there is a change of government after the elections next July.
Managing Director Greg Campbell Kidman said she hoped a consortium led by a subsidiary of Shanghai Pengxin Group will return to bid after the elections for the land area smaller or greater investment value.
Source: VOA News