This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.theguardian.com/australia-news/2016/oct/23/farming-families-confirm-rival-offer-to-gina-rineharts-bid-for-s-kidman-and-co
The article has changed 4 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Farming families confirm rival offer to Gina Rinehart's bid for S Kidman and Co Farming families confirm rival offer to Gina Rinehart's bid for S Kidman and Co | |
| (2 months later) | |
| A quartet of Australian grazier families has offered a $386m bid for the S Kidman and Co land sale, bettering an offer from mining boss Gina Rinehart and her Chinese partner Shanghai CRED. | A quartet of Australian grazier families has offered a $386m bid for the S Kidman and Co land sale, bettering an offer from mining boss Gina Rinehart and her Chinese partner Shanghai CRED. |
| Tom Brinkworth, Sterling Buntine, Malcolm Harris and Viv Oldfield have said under their offer, Kidman would stay wholly Australian owned, the sale would not require approval from the foreign investment review board, and they would triple the size of the cattle herd marketed under the Kidman name. | Tom Brinkworth, Sterling Buntine, Malcolm Harris and Viv Oldfield have said under their offer, Kidman would stay wholly Australian owned, the sale would not require approval from the foreign investment review board, and they would triple the size of the cattle herd marketed under the Kidman name. |
| “The four families comprising the consortium are deeply committed to honouring and preserving the Kidman heritage and brand which will continue under the stewardship of highly regarded and successful Australian graziers,” Buntine said in a statement on Sunday. | “The four families comprising the consortium are deeply committed to honouring and preserving the Kidman heritage and brand which will continue under the stewardship of highly regarded and successful Australian graziers,” Buntine said in a statement on Sunday. |
| The BBHO consortium is seeking acquire 100% of the S Kidman and Co shares. | The BBHO consortium is seeking acquire 100% of the S Kidman and Co shares. |
| Earlier this month Rinehart lodged a $365m Australian-majority bid for 67% S Kidman and Co, with Chinese-owned Shanghai CRED to hold the other third. | Earlier this month Rinehart lodged a $365m Australian-majority bid for 67% S Kidman and Co, with Chinese-owned Shanghai CRED to hold the other third. |
| That bid still needs to go before the before the Foreign Investment Review Board, because there is a minority foreign investor. | That bid still needs to go before the before the Foreign Investment Review Board, because there is a minority foreign investor. |
| An earlier bid this year from a Chinese-led consortium was scuttled by the treasurer, Scott Morrison. | An earlier bid this year from a Chinese-led consortium was scuttled by the treasurer, Scott Morrison. |
| S Kidman and Co, founded in 1899, is Australia’s largest private landholder with properties covering 101,000 square kilometres across three states and the Northern Territory. | S Kidman and Co, founded in 1899, is Australia’s largest private landholder with properties covering 101,000 square kilometres across three states and the Northern Territory. |
| Under the BBHO bid, an Adelaide office would be maintained and the Tungali feedlot would be retained. | Under the BBHO bid, an Adelaide office would be maintained and the Tungali feedlot would be retained. |
| Crossbench senator Nick Xenophon last week welcomed news of the bid and urged other politicians to get behind it. | Crossbench senator Nick Xenophon last week welcomed news of the bid and urged other politicians to get behind it. |
| “It’s important the prime minister makes it clear that the national interest would be served by having a 100% fair dinkum Australian bid for S Kidman & Co,” he said. | “It’s important the prime minister makes it clear that the national interest would be served by having a 100% fair dinkum Australian bid for S Kidman & Co,” he said. |