S.Kidman battle between Gina Rinehart and Richlisters

S.Kidman battle between Gina Rinehart and Richlisters
Jonathan ChancellorDecember 7, 2020

Gina Rinehart's desire to secure Australia's largest landholder, cattle company S.Kidman & Co with a Chinese investor, is being challenged.

The rival bid has been confirmed from wealthiest graziers including BRW Richlisters Tom and Pat Brinkworth and Sterling Buntine.

The Kidman's preferred bid, at $365 million, comes via Australian Outback Beef (AOB), a consortium two thirds controlled by mining magnate Gina Rinehart, and a Chinese business partner, Shanghai CRED.

Their bid does not include Anna Creek, a property in South Australia that raised national security concerns when Chinese interests tried to buy the Kidman properties last year.

BBHO has since emerged, comprising four of the nation's wealthiest outback cattle and transport families offering $385 million, for all the properties including Anna Creek.

The local bid would avoid scrutiny by Australia's Foreign Investment Review Board given BBHO's directors, Viv Oldfield, Tom Brinkworth, Sterling Buntine and Malcolm Harris, represent some of the most prominent names in the outback.

The bid has not yet been received, but once it is, AOB has the right to match the offer.

AOB and Kidman have an agreement that triggers a $3.8 million break fee if either party walks away.

A finalised sale is expected early next year. 

Alice Springs businessman Viv Oldfield is most well known as a race horse trainer.

The 58 year old runs cattle on pastoral land in the Northern Territory and South Australia, and has partnered with a fellow pastoralist to sell cattle to China.

East of Alice Spring, Mr Oldfield runs cattle across the jointly managed properties Andado Station, Horseshoe Bend and New Crown.

He owns an outback transport company, Tanami Transport, of which S Kidman and Co is client.

The South Australian pastoralist Tom Brinkworth owns more than 100 properties spread across more than 400,000 hectares 

Sterling Buntine owns Alroy Downs Station and Dalmore Downs, along with Lissadell, Bedford Downs and Lansdowne stations in the Kimberley in Western Australia.

Malcolm Harris and his family recently gained approval to apply for a freehold lease on WA's Gogo Station at Fitzroy Crossing.

The family owns Benmarra Station in the Northern Territory, and Rockhampton Downs, near Tennant Creek.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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