VENTURE: Partnership for ‘ Kidman Cattle Empire ‘ as Rinehart Hancock Prospecting (67%) and Shanghai CRED (33%) Australian Outback Beef Pty Ltd, a new joint venture, buy Kidman for $276.8-million – @AceFinanceNews

#AceFinanceNews – Oct.12: Australia’s Rinehart and China’s Shanghai CRED agree deal for Kidman cattle empire

Australia’s richest woman Gina Rinehart and Chinese developer Shanghai CRED have agreed on a deal to jointly purchase S. Kidman & Co, the country’s largest private land holding, for A$365 million ($276.8 million), the companies said on Sunday.

Rinehart’s Hancock Prospecting will own 67 percent and Shanghai CRED 33 percent of Australian Outback Beef Pty Ltd, a new joint venture created to buy Kidman in a bid to overcome government concerns about foreign interests buying the cattle empire.

Editors Notes:

I would remind you that this blog is produced free for the public good and you are welcome to republish or re-use this article or any other material freely anywhere without requesting further permission.

News & Views welcome always published as long as NO bad language or is not related to subject matter.

To keep online information secure, experts recommend keeping your social media accounts private, changing your passwords often, and never answering unsolicited emails or phone calls asking for your personal information. Need help and guidance visit and leave a comment or send a private message on Telegram @Aceone31

Ace News Services Site Links Listed Here:

AceTweet This News