One of Australia’s biggest industries – both in size and economy – has just received an offer which may be difficult to refuse. The Foreign Investment Review Board is currently in the process of assessing a proposal by China’s Dakang Australia Holdings to purchase 80% of S Kidman & Co for $370.7 million.
S Kidman & Co own cattle stations spanning across 17 properties and a total 101,000 kilometres of land thus making the company the largest landholder in Australia.
Due to the magnitude of not only the financial transaction but the land mass which will be transferred to an international investor, the Foreign Investment Review Board (FIRB) is carefully assessing the proposed agreement.
The remaining 20% of the company will go to Australian Rural Capital (ARC) who will compliment the agreement with their contribution towards their experience in the local agricultural sector.
“We believe Dakang Australia and ARC will be good custodians of the business and this transaction will provide a solid platform for growth and, at the same time, an opportunity for Australians to participate in Kidman’s future,” said Mr John Crosby who is the chairman of S Kidman & Co.
The offer is scheduled to close on the 5th of August 2016 after the decision of the FIRB is passed.
If you are interested in the international investment opportunities available in Australia and the corresponding visas, please contact our team of qualified migration agents located in Brisbane, Australia for more information.