Chinese investors may buy 1% of Australia for just $300mn

 21 Apr, 2016

A farmer rides his horse as he herds his cattle towards stockyards near the outback Queensland town of Aramac, west of Brisbane, Australia 

A consortium of Chinese and Australian investors has agreed to purchase 11 million hectares in Australia from the country’s largest private landholder S. Kidman & Co.

The deal, worth $289 million (A$371 million), has yet to be approved by the regulatory authorities. Last year, the proposal was rejected by the Australian government because of national interests.