Media Release

KAP Member for Kennedy, Bob Katter is incredulous of Gina Rinehart’s intensions to buy the Kidman cattle empire with Chinese company, Shanghai CRED.

“It is not often that I break ranks with my very esteemed colleague Nick Xenophon. And I have great respect for Pauline Hanson but in both cases they’ve rushed to judgement and said this is a good deal… well I’m afraid you want to look before you leap here.

“I said before the election, this lot will be back after the election wearing a different suit, so here they are, same mob back again with one of the most prominent people in Australia who has been heavily involved with Chinese corporations.

“There is another offer on the table for Kidman that is significant and competitive… and we are informed they have made the largest offer. This offer is from a group of entirely Australian people. This offer will be made public shortly. I have been speaking to one of the principals and they are curious as to why they have made a bigger offer than Gina’s and they’re not even allowed to inspect the property.

“To my knowledge Gina has no experience in cattle. Her father owned a cattle station but that was a long time ago and why she suddenly has this great interest in cattle and has come forward with a Chinese partner?

“Does anyone seriously think that Shanghai CRED… with its parent company having put in a bid for the whole lot they’re going to settle for a third? And why would the Kidman board pass up a superior offer by a group of the most highly respected Australians.

“Today in Parliament I reintroduced my Foreign Acquisitions and Takeovers Amendment (Strategic Assets) Bill 2016. It seeks to prevent foreign companies from acquiring a 10 per cent or greater interest in Australian land, water or other assets that are either of “strategic economic importance” or “strategic defensive importance” to Australia (i.e. the Kidman holdings).

“When you’ve been a Member of Parliament for 42 years you can smell a rat from a mile away and this rat is very very smelly indeed.”

##ENDS##