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Cubbie sold to Chinese consortium

Posted by: 2UE | 1 September, 2012 - 2:52 PM
Senator Heffernan discusses the sale of Cubbie Station

Liberal State Senator Bill Heffernan says the Gillard Government's sale of Cubbie Station to a Chinese-led consortium is a bad deal.

Treasurer Wayne Swan approved the sale overnight of Australia's largest privately-owned farm and water user, which will now be mainly controlled by a Chinese textile company.

Senator Heffernan has told John Stanley the company has roots in the Chinese Government.

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Under the terms of the approval textile manufacturer RuYi - owned by investors based in China and Japan - will initially take an 80 per cent stake in the station. That will be sold down to 51 per cent within three years. (AAP)

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Blog comments Your Say

  • Big supporters of the UN's fraudulent global warming tax on Australia. Atheists, well worn lobbying Labor hacks Bob Hawke and Bob Carr are spending a lot of time in China, obviously selling-out Australia??

    Nigel Monday 3 September, 2012 - 10:40 AM
  • @Peter said "what were they supposed to do ?" Call an election and put the Liberals into government. Corrupt Labor are bad news!

    Phil Monday 3 September, 2012 - 10:34 AM
  • well they couldn't sell it to anyone here, what were they supposed to do ?

    Peter Monday 3 September, 2012 - 9:18 AM
  • @James a Labor apologist grub, says: "We didnt buy it so someone else did." Traitorous Labor are giving our own farmers such a hard time why would they even bother. However, the super-power-communist-buyer China is Labor's mortgagee/owner and accordingly obedient Labor will happily do whatever China dictates. Why do Labor hate Australians??

    Clement Sunday 2 September, 2012 - 6:38 PM
  • What would you expect from a Reinhart, Palmer, Forrest slave like Heffernan? He would be prepared to sell everything to the US or to his bosses the notorious above three.

    Peter Sunday 2 September, 2012 - 3:29 PM
  • Cubbie station was on the market for years. Any one of our wealthy entreprenurs could have bought it and let the competent managers continue to run it. So there is no place for complaint. We didnt buy it so someone else did.

    James Saturday 1 September, 2012 - 9:56 PM

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