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Australia blocks pastoral land sale to Chinese bidders

[SYDNEY] The Australian government on Friday blocked the sale of S Kidman & Co, one of the country's biggest cattle empires, to a Chinese-led consortium, saying it was contrary to the national interest.

Treasurer Scott Morrison said he had given China's Hunan Dakang Pasture Farming Co Ltd and Shanghai CRED Real Estate Stock Co Ltd until Tuesday to address the government's concerns over the A$371 million (S$381 million) offer.

"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," Mr Morrison told reporters.

REUTERS