Kidman sale to Shanghai Pengxin syndicate nears

Shanghai Pengxin and its partner Australian Rural Capital have been assigned preferred bidder status for Australia's largest rural landholder, S.Kidman & Co. 

It followed a Kidman & Co board meeting last week. 

The Foreign Investment Review Board has yet to make a decision on their rumoured $350 million bid. 

S. Kidman & Co is Australia's largest private rural landholder spread across 11 cattle stations in South Australia, Western Australia, the Northern Territory and Queensland.

FIRB rejected an initial offer from Shanghai Pengxin last year with its standalone offer after concerns were raised about its proximity to the Woomera weapons testing range in South Australia. 

Pengxin now has a local partner, Australian Rural Capital, which is expected to manage the land should the bid be successful.