Reinhart, Shanghai CRED ink deal for cattle empire

Australia’s richest woman Gina Rinehart and Chinese developer Shanghai CRED (上海中房置業) have agreed on a deal to jointly purchase S. Kidman & Co, the country’s largest private land holding, for A$365 million (US$276.8 million), the companies said on Sunday. Rinehart’s Hancock Prospecting will own 67 percent and Shanghai CRED 33 percent of Australian Outback Beef Pty Ltd, a new joint venture...