Australia has given approval for the sale of the country's largest private landholding, the Kidman estate.
It will go to Australia's richest woman, Gina Rinehart, and her business partner, Chinese developer Shanghai CRED.
The largest Kidman station, Anna Creek, will be sold to a local farming family.
The sale of the estate, encompassing about 1.3% of Australian land, had been halted several times due to concerns about foreign interests.
Kidman estate said in a statement that "all Australian regulatory approvals for the sale have now been met, 99% of Kidman shareholders have accepted the offer, and the announcement means the sale can now progress to its conclusion".
The Kidman estate was originally offered for sale in April 2015.
Kidman & Co
Founded in 1899
101,411
sq/km of overall territory
- 77,300 sq/km to be sold
- 1% of Australia to change hands
- 15,000 tonnes of beef carcass shipped globally per year
The Anna Creek cattle station - the largest one in the Kidman group - is not part of the Rinehart deal. That farm, together with its outstation The Peake, will be acquired by the Williams family who own properties that adjoin Anna Creek.
With the sale of Anna Creek and The Peake, Kidman's Australian ownership increases from 66.1% to 74.7%.
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