Australia: Morrison said his "preliminary view" was that the deal to sell S. Kidman and Co. to Dakang Australia Holdings was "contrary to the national interest", the reason he had used to block the deal in November last year, according to Xinhua China. Morrison said in his statement that Australia welcomes foreign investment. Limited, the country largest private land owner, to Chinese investor, saying the deal is "contrary to the national interest". Dakang Australia Holdings Pty Ltd , a consortium controlled by Shanghai Pengxin, has been the front-runner of the bidders with an offer of 370.1 million AU dollars , which is significantly higher than earlier valuations. The Coalition government has been using the slogan of "open for business" since it took office in 2013. In the case of S. Kidman and Co. land, Morrison blocked the deal in November 2015, citing reasons that the whole package of land for sale included Anna Creek, which is located within Australia Woomera Prohibited Area weapons testing range in South Australia. However, when a foreign investment is in the agricultural sector or comes from a particular country, such as China, investors should better prepare for something unexpected.
(news.financializer.com). As
reported in the news.
Tagged under Australia, national interest topics.