The sale of the vast Kidman pastoral empire to the joint venture Outback Beef has passed the foreign investment hurdle.
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Gina Rinehart has partnered with a Chinese company to buy the giant Kidman pastoral empire, after two previous bids by Chinese buyers were rejected by the federal government.
The message Chinese investors are getting from Australia is shifting from ambiguous to ominously hostile.
Treasurer Scott Morrison has announced that his “preliminary decision” is that the purchase of the Kidman pastoral empire by a Chinese-dominated buyer “is contrary to the national interest”.
Treasurer Scott Morrison’s reason for rejecting the Chinese bid offers a radically different definition of ‘national interest’ but doesn’t say much about how foreign interests are defined.
The company built by ‘Cattle King’ Sidney Kidman is for sale. He enjoyed good relations with the Indigenous inhabitants, but proper recognition of their rights to their land seems ever more elusive.
