AUSTRALIA'S biggest cattle station - which has land in the Northern Territory - took a step closer to being sold to Chinese investors yesterday with the announcement that they had agreed on a price of $370 million. 
The board of S Kidman & Co, which covers almost 11 million hectares of Australian cattle stations, agreed to sell to a consortium of Chinese and Australian investors.
But before the sale can go ahead it still needs to be approved by the Foreign Investment Review Board, a process treasurer Scott Morrison has reportedly said will not begin until after the election.
Kidman chairman John Crosby said the deal would be a boost for Australia. "The significant investment proposed by the Consortium will see an increase in production and the expansion of international markets for Kidman beef, the majority of which is already exported," he said. The treasurer blocked the sale last   November because it was not in the national interests.The sale to Shanghai-based Dakang Australia and ASX listed Australian Rural Capital announced yesterday has been restructured and does not include Anna Creek, the world's largest cattle station, which overlaps the Woomera rocket range. Kidman's two stations in the NT are Helen Springs and Brunchilly near Tennant Creek.