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. Rinehart, who has close ties with ruling conservative lawmakers, said Kidman "is an important part of Australia's pioneering and entrepreneurial history". A source familiar with the Dakang bid told Reuters in late August that it was considering a fresh bid of its own with potential domestic investors. "Gina Rinehart had to hire a tip-truck to tip the money off to the National Party during the last election." "I think Gina Rinehart is pretty much uncontrollable."

Source: Otago Daily Times October 09, 2016 22:07 UTC