1. LINE

      Text:AAAPrint
      Economy

      Donlinks bids for Australian beef producer S. Kidman

      1
      2015-10-16 08:51China Daily Editor: Wang Fan

      Guangzhou-based grain and edible oil producer Donlinks Grain & Oil Co Ltd has become the latest Chinese bidder to enter the race for S. Kidman & Co Ltd, one of Australia's largest landholders.

      Donlinks will form a consortium with Genius Link Capital Ltd, an asset management company registered in the British Virgin Islands, to make a second-round offer for the Australian beef producer and landowner.

      "The S. Kidman & Co bid will help diversify our agriculture business," the company said in a statement.

      If the bid is successful, Donlinks will own 51 percent of S. Kidman. Additionally, the acquisition could create new market opportunities for Donlinks and improve its performance, the company said.

      Shares of the company were suspended from trading on Thursday.

      As many as seven Chinese firms are believed to have joined the bidding process for S. Kidman since April, when the Australian company offered its holdings for sale.

      Local media reported that Shanghai-based Pengxin Group and Chinese agribusiness company New Hope Group could have placed bids for the Australian landholder.

      Greg Campbell, chief executive officer and managing director of S. Kidman, refused to confirm the names of the short-listed bidders.

      Nonetheless, the chief executive confirmed that the cattle property company was presently at the end of the second stage of the sale with final bids expected to be lodged on Oct 27.

      "We expect to be able to make a public announcement on the preferred bidder by around Nov 5," Campbell told China Daily in an e-mail.

      EY, the audit firm that is handling the deal, was reported as saying that the winning bid could be about A$325 million ($237 million).

      "Neither S. Kidman nor the EY transaction team has set an asking price for the business," said Campbell. "The bidders will determine their own value for the S. Kidman business based on their professional due diligence."

      S. Kidman is one of the largest beef producers in Australia with a herd of 185,000 cattle. The company owns 11 cattle stations, including the world's largest, Anna Creek.

      The Chinese beef production industry is expected to grow only at a modest pace over the coming years. This, in turn, will widen the beef production deficit as local companies struggle to keep pace with China's robust growth in consumption of red meat.

      Aurelia Britsch, a senior commodity analyst at Business Monitor International, said: "China's beef industry is still in the primary development stage and blighted by inefficiency."

      Thibaud Andre, a consultant with market research agency Daxue Consulting, said: "It is obvious that China is hardly producing enough locally to ensure domestic demand. Thus, looking at foreign producers is an intuitive strategy."

      However, in the past few years, the appetite for red meat has continued to accelerate thanks to new diet habits and higher disposable incomes.

      China is expected to consume 7.21 million metric tons of red meat in 2015, according to Daxue Consulting. Meanwhile, research firm Business Monitor International estimated that China's beef imports will register a 12 percent growth this year from a year earlier.

        

      Related news

      MorePhoto

      Most popular in 24h

      MoreTop news

      MoreVideo

      News
      Politics
      Business
      Society
      Culture
      Military
      Sci-tech
      Entertainment
      Sports
      Odd
      Features
      Biz
      Economy
      Travel
      Travel News
      Travel Types
      Events
      Food
      Hotel
      Bar & Club
      Architecture
      Gallery
      Photo
      CNS Photo
      Video
      Video
      Learning Chinese
      Learn About China
      Social Chinese
      Business Chinese
      Buzz Words
      Bilingual
      Resources
      ECNS Wire
      Special Coverage
      Infographics
      Voices
      LINE
      Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.
      主站蜘蛛池模板: 午夜免费福利视频| 免费福利资源站在线视频| 国产无遮挡色视频免费观看性色| 免费看美女被靠到爽| 国产成人精品日本亚洲11| 18pao国产成视频永久免费| 久久亚洲一区二区| 四虎影视在线影院在线观看免费视频 | 亚洲熟妇av一区| 免费无遮挡无码永久视频| 国产亚洲人成网站在线观看不卡| 一区二区3区免费视频| 亚洲精品国产自在久久| CAOPORM国产精品视频免费| 区久久AAA片69亚洲| 久久成人无码国产免费播放| 中文字幕在线观看亚洲| 最近中文字幕高清免费中文字幕mv| 亚洲av日韩av天堂影片精品| 中文字幕在线免费| 久久久久se色偷偷亚洲精品av | 无人在线观看完整免费版视频| 亚洲最新在线视频| 毛片免费全部播放一级| 久久亚洲精品成人无码| 亚洲人成网站18禁止一区| 国产在线播放线91免费| 亚洲黄色高清视频| 在线免费观看a级片| 精品在线观看免费| 亚洲精品夜夜夜妓女网| 91成人在线免费观看| 亚洲高清一区二区三区电影| 亚洲国产精品成人网址天堂| 精品国产污污免费网站| 亚洲伊人久久大香线蕉| 国产aa免费视频| 国内精品一级毛片免费看| 色偷偷女男人的天堂亚洲网| 亚洲高清成人一区二区三区| 久久大香伊焦在人线免费|