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Chinese firms eye Aussie assets
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Several Chinese firms have flagged their interest in bidding for Australian property company S. Kidman & Co, one of Australia’s largest beef producers which has a landholding covering 101,000 square kilometers in three states and the Northern Territory.
The Kidman properties are said to comprise the “largest private, non-monarchical, non-state landholding on earth.”
The advisory firm responsible for facilitating the sale of S. Kidman & Co, Australia’s oldest family-owned landholder group, confirmed two Chinese firms have made their buyer shortlist.
The Chinese firms, according to Fairfax Media yesterday, are the Shanghai Pengxin group — an individual bidder — and a consortium comprising of Shanghai CRED, Zendai Group and Shanshan Group.
The sale of the company’s 11 million hectares of land — across South Australia, Western Australia, Queensland and the Northern Territory — is set to attract a fee of over US$237 million.
A potential deal is complicated by the company’s ownership of land surrounding Australia’s classified Woomera rocket range in South Australia.
The Woomera Protected Area is the world’s largest open range weapons testing facility, with 122,188 square kilometers of land in South Australia’s northwest dedicated to the activity.
Ernst & Young’s Don Manifold said the issue would not prevent the sale from going ahead.
“Anna Creek, which is in the Woomera rocket-testing range, will have some sensitivities,” Manifold, a partner for mergers and acquisitions, told Fairfax Media.
“There are three zones including green, yellow and red, which is the most important. Anna Creek has a small part within the green zone.
“We have worked with and spoken to each of the state and federal governments, and there have been no significant issues raised.”
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