Chinese-Led Group to Buy Iconic Australian Cattle Rancher
Venture involving Shanghai Pengxin to buy 80% of Kidman
Kidman is the largest private landowner in Australia
A Chinese-led group agreed to buy Australia’s most iconic cattle company in a deal valued at more than A$370 million ($288 million) after partnering with local investors.
The venture, headed by a company controlled by Shanghai Pengxin Group, will purchase 80 percent of S. Kidman & Co., according to a statement Tuesday to the Shenzhen Stock Exchange. Australian Rural Capital Ltd. will take a 20 percent stake.