S Kidman and Co.
Treasurer Scott Morrison says no to a Chinese company.
Treasurer Scott Morrison has rejected the sale of Australia's largest private landholder, S Kidman and Co, to a Chinese company.
'I have today informed the investor that my preliminary view of the proposal that has been put to me is contrary to the national interest,' he told reporters in Canberra on Friday.
Mr Morrison said the impact of the sale of the Kidman portfolio on broader support for foreign investment in agricultural land must be taken into account.
The Kidman portfolio is the largest private land holding in Australia covering about 1.3 per cent of the nation's total land area, and 2.5 per cent of its agricultural land.
Even after the excision of Anna Creek and The Peake properties, Kidman would still be Australia's largest private land owner and hold over one per cent total land area, and two per cent of agricultural land.
A revised sale proposal still did nothing to quell the government's concerns.
'Australia welcomes foreign investment, however we must be confident that this investment is not contrary to the national interest,' the treasurer said.
National Party leader Barnaby Joyce welcomed the decision.
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http://www.skynews.com.au/news/top-stories/2016/04/29/kidman-sale--not-in-national-interest-.html
