Shanghai Pengxin knocked back on massive Australian farm purchase

Fri, 29 Apr 2016

By Pattrick Smellie April 29 (BusinessDesk) - Already locked out of a major farm and forestry purchase in New Zealand last year, an Australian arm of the Chinese Shanghai Pengxin global conglomerate has today been told it can't buy one of Australia's largest farms, covering around 1 percent of the continent's total area. Australian Treasurer Scott Morrison announced this afternoon he was making a “preliminary decision” to block the proposed A$371 million sale of the S. Kidman & Co cattle empire, to a Chinese-led consortium, citing nationa...

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