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Crowd-Funder DomaCom Re-Enters the Bidding Circle for Kidman Cattle Empire
- Published May 24, 2016 10:31AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
3rd May 2016, ABC News By Clint Jasper
Crowd-funding property investment group DomaCom has partnered with Lloyd Business Brokers to re-enter a bid for S Kidman & Co.
Under the partnership, DomaCom, which offers investors the chance to buy small parcels of property, plans to buy Kidman’s land, while Lloyds seeks an investor willing to purchase the business.
The company has been given the opportunity to look at Kidman’s accounts, and plans to match the rejected offer made by a Chinese consortium, of between $360 million and $370 million.
DomaCom’s valuation of the land is $210 million, and the company is seeking an investment partner through Lloyds to make up the difference.
Chief executive Arthur Naoumidis said if the bid was successful, the new owners would seek to list the cattle empire on the Australian Stock Exchange.
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