Morrison blocks up S. Kidman sale
Australia's largest private land owner
Treasurer Scott Morrison has blocked the foreign acquisition of S. Kidman and Co Ltd, Australia's largest private land owner.
The treasurer said the sale would be contrary to the national interest.
Mr Morrison said Kidman held around 1.3 per cent of Australia's total land area, and 2.5 per cent of Australia's agricultural land.
The company has 10 cattle stations, including properties across regional South Australia, Western Australia, the Northern Territory and Queensland covering 101,411 square kilometres and managing a long-term average herd of 185,000 cattle.
One of its stations, Anna Creek, is also the largest single property holding in Australia and around 50 per cent of its pastoral lease is located in the Woomera Prohibited Area weapons testing range in South Australia.
Mr Morrison said given the size and significance of the total portfolio of Kidman properties along with the national security issues around access to the WPA, he determined that a sale in its current form would be contrary to Australia's national interest.
"Australia welcomes foreign investment where it is consistent with our national interests," he said in a statement.
Source (AAP)
