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Farmers look at cattle at a weekly livestock sale near the town of Carcoar in central-west New South Wales on February 10 Nike Air Force 1 07 Se Scontate , 2015 (AFP PhotoPeter Parks)

Australia on Thursday blocked the sale of one of the world's largest cattle estates to foreign entities, ruling it was not in the national interest with part of the holdings in a weapons testing area.

S. Kidman and Co Ltd, Australia's biggest private land owner, is on the market with Chinese companies Genius Link Group and Shanghai Pengxin reportedly in a bidding war to secure the sprawling pastoral empire for up to Aus$350 million ($249 million).

But amid concerns about valuable agricultural and mineral assets passing into foreign hands, Treasurer Scott Morrison said he would not authorise any sale to overseas investors.

"Consistent with the recommendation from the Foreign Investment Review Board Nike Air Force 1 07 Saldi Scontate , I have decided that the acquisition by foreign investors of S. Kidman and Co. Limited would be contrary to the national interest and shall not be authorising the sale to proceed as currently proposed," he said.

Kidman, founded in 1899, holds around 1.3 percent of Australia's total land area, and 2.5 percent of the nation's agricultural land. It is a key source of beef for export to Japan Scarpe Nike Air Force 1 07 Scontate , the United States and Southeast Asia.

The company has 10 cattle stations, including properties across regional South Australia, Western Australia, the Northern Territory and Queensland covering 101,411 square kilometres (39 Nuove Nike Air Force 1 07 Scontate ,155 square miles) -- an area larger than South Korea -- with a herd of 185,000 cattle.

One of them, Anna Creek, is the largest single property holding in Australia -- bigger in size than Israel -- and around 50 percent of its pastoral lease is located in the Woomera Prohibited Area (WPA) weapons testing range in South Australia.

Morrison said his decision was based on the size and significance of Kidman's total portfolio along with national security issues around access to the WPA, which has been used to test nuclear bombs Nike Air Force 1 07 Low Mid Scontate , launch satellites and track space missions.

"Australia welcomes foreign investment where it is consistent with our national interests," he said, adding that he had communicated his decision to bidders and they had withdrawn their Foreign Investment Review Board applications.

- Surprise outcome -

Kidman managing director Greg Campbell said he was surprised by the decision and was seeking clarity around the government's concerns and the deal's parameters.

Anna Creek cattle station is the largest single property holding in Australia -- bigger in size than Israel -- and around 50% of its pastoral lease is located in the Woomera Prohibited Area (WPA) weapons testing range in South Australia (AFP PhotoWilliam West)

"To be honest I didn't think this would be the outcome," he told national radio.

"The Kidman family have been patient investors in the Australian cattle industry for 116 years and what we find this morning is that they're not at liberty to accept the best price for their business."

Earlier this year, Australia announced plans to tighten scrutiny on overseas purchases of farmland Nike Air Force 1 07 High Scontate , with any bid by a foreigner that brings their cumulative farmland investments to more than Aus$15 million to be screened by the national regulator.

Previously, the Australian Foreign Investment Board only screened foreign investment for purchases of agricultural land over Aus$252 million.

The move followed warnings from politicians with rural constituencies against selling farming land to foreigners, including to Australia's top trading partner China, amid concerns about the nation's food security.

A study by the Rural Industries Research and Development Corporation in early 2012 showed 11 percent of farming land was foreign-owned, a level little changed in 30 years although there has been a spate of more recent purchases by overseas entities Nike Air Force 1 07 Low Scontate , notably from China.

LIU Tienan stands trial in Langfang city LIU Tienan stands trial in Langfang city LIU Tienan stands trial in Langfang city Liu cries in court LIU Tienan stands trial in Langfang city Liu cries in court Liu cries in court LIU Tienan stands trial in Langfang city

LIU Tienan, ex-deputy chief of China’s top economic planning body, was sentenced to life imprisonment for bribery by a court in north China’s Hebei Province yesterday.

The 60-year-old accepted bribes of 35.58 million yuan (US$5.8 million) between 2002 and 2012, personally or through his son Liu Decheng, the Langfang City Intermediate People’s Court said.

He exploited his position at the National Development and Reform Commission to secure profits for companies and individuals Nike Air Force 1 07 Italia Scontate , the court said.

Liu was granted a lenient sentence because he confessed most of his crimes and showed remorse at his trial in September and the money amassed by the pair had been returned, the court said.

When asked for his plea, Liu said he had accepted his guilt and would accept any punishment, Xinhua news agency reported.

“Faced with the facts, I have been asking myself every time I read the indictment Nike Air Force 1 07 Bambino Scontate , is this me? How did I end up like this?” said a tearful Liu, according to court transcripts posted on one of the court’s official social media accounts in September.

“Each morning, I wonder where I am and how I have ended up in this state,” said Liu, adding that he had also been a bad influence on his son.

The court found that most of the bribes were linked to his 29-year-old son Nike Air Force 1 07 Uomo Scontate , who is currently in detention awaiting trial.

He acted as a middleman to get projects approved by his father and was paid so-called “thank you fees” of nearly 7.5 million yuan, the court found.

Between 2003 and 2012, Liu Tienan helped the Guangzhou Automobile Gr. Wholesale Jerseys Free Shipping   Wholesale Cheap NHL Jerseys   Wholesale NFL Jerseys From China   Wholesale NCAA Football Jerseys   Wholesale Basketball Jerseys Free Shipping   Wholesale Baseball Jerseys Cheap   Wholesale Custom Soccer Jerseys   Cheap Jerseys   Cheap Jerseys From China   Cheap NCAA College Jerseys 

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