Treasurer Scott Morrison has approved the sale of the S. Kidman cattle empire to Australian Outback Beef Pty Ltd, which is owned by Shanghai CRED Real Estate Stock Co Ltd and mining magnate Gina Rinehart.

"The treasurer's approach to the sale of Kidman enabled a local Australian company to pay a fair market price and retain Kidman in Australian control," said Ms. Rinehart.  Existing environmental and other commitments will be honoured, and Rinehart's Hancock Mining will keep Kidman's headquarters in Adelaide.  Mr. Morrison said the deal increased Australian ownership in the properties currently part of the Kidman group from 66.1 percent to 74.7 percent. 

Kidman has herds on pastoral leases covering 101,000 square kilometers across Western Australia, the Northern Territory, Queensland, and South Australia.  But the Anna Creek Station next to the Woomera weapons testing range has been stripped out of the deal because of security concerns - that station will go to the Williams family, a local farming family with adjoining properties.   Without Anna Creek, it reduces the land area bought by Australian Outback Beef to 77,700 square kilometres - but it's still one of the top three beef producers in Oz.