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Sydney
AUSTRALIA'S richest woman Gina Rinehart and Chinese developer Shanghai Cred have agreed on a deal to jointly purchase S. Kidman & Co, the country's largest private land holding, for A$365 million (S$380 million), the companies said on Sunday.
Her Hancock Prospecting will own 67 per cent and Shanghai Cred 33 per cent of Australian Outback Beef Pty Ltd, a new joint venture created to buy Kidman in a bid to overcome government concerns about foreign interests buying the cattle empire.
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