Gina Rinehart: Kidman and Majority Interest

gina rinehart: Australia richest person and the world richest woman, Gina Rinehart, entered the fray in October, backed by Chinese property developer Shanghai CRED. The consortium offered Aus 386.5 million 295 million, 277 million euros for Kidman, with the mining magnate holding a majority interest, according to Deutsche Welle. Consistent with the recommendation from the Foreign Investment Review Board, I have decided that the acquisition of Kidman as proposed would not be contrary to the national interest and will be permitted to proceed as proposed, Morrison said in a statement on Friday. He also rejected a joint bid by Chinese-owned Dakang Australia Holding and Australian Rural Capital for the same reasons. Chinese land grab Kidman, founded in 1899, holds around 1.3 percent of Australia total land area, and 2.5 percent of the nation agricultural land, running 185,000 cattle. Part of the 101,000-square-kilometer 38,996-square-mile property is situated next to a top-secret government weapons-testing range in central Australia, which the government said should not end up in foreign hands. It is a key source of beef for export to Japan, the United States and Southeast Asia. (news.financializer.com). As reported in the news.