December 9, 2016 / 1:01 AM / 8 months ago

Australia approves sale of S. Kidman & Co pastoral land

SYDNEY, Dec 9 (Reuters) - Australia's Treasurer Scott Morrison on Friday approved the A$386.5 million ($288 million) sale of the country's largest private land holder S. Kidman & Co to a consortium led by Australia's richest woman Gina Rinehart.

Rinehart and her minority partner, Chinese developer Shanghai CRED, will now complete the purchase of S. Kidman, which runs cattle and pastoral activities on tracts of land the size of South Korea.

$1 = 1.3419 Australian dollars Reporting by Colin Packham; Editing by Richard Pullin

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