CHINA – Chinese real estate developer Shanghai Pengxin is set to become Australia’s largest farmland owner if two cattle company acquisitions get the green light.
Two separate offers have been placed totalling US$720 million for Consolidated Pastoral Co and S Kidman & Co Ltd, two of Australia’s biggest beef producers.
According to the Australian Financial Review, S Kidman’s managing director could not confirm if Pengxin has placed an offer for the company but noted several groups had placed bids.
The Pastoral Co runs has capacity for 375,000 head over 5.7 million hectares of land, with 20 properties, mostly across northern Australia.
S Kidman and Co Ltd run 185,000 cattle on 101,000 square kilometres of pastoral leases.
TheCattleSite News Desk
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