Agreement reached on sale of Kidman

Updated October 9 2016 - 6:00pm, first published 5:52pm
Chairman of the Hancock group Mrs Gina Rinehart said she was pleased to have the opportunity to invest further in Australia's cattle holdings through the acquisition of the Kidman stations.
Chairman of the Hancock group Mrs Gina Rinehart said she was pleased to have the opportunity to invest further in Australia's cattle holdings through the acquisition of the Kidman stations.

Gina Rinehart’s Hancock Prospecting Pty Ltd, Shanghai CRED Real Estate Stock Co Ltd and S. Kidman & Co Ltd (Kidman) have announced today that they have entered into a Bid Implementation Agreement (BIA) under which a joint venture company Australian Outback Beef Pty Ltd (AOB) owned 67 per cent by Hancock and 33pc by Shanghai CRED has committed to make a takeover offer to acquire the Kidman and Co. 

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