Another Aussie icon up for sale

One of Australia’s most iconic exports is up for grabs, with the home of the merino sheep and the country’s golden era of wool prosperity on the market.

The world-renowned Wanganella, Peppin­ella and Boonoke sheep stations in southern NSW are up for sale, with Chinese buyers expected to make a bid for the $330 million deal, reports The Australian.

The multi-station empire has been running since the 1880s as the FSF Falkiner group, with part-owner and stockbroker Colin Bell telling The Australian it has been been on the market under five previous owners.

The stations are renowned around the world as the place where 80 per cent of all modern merinos can be traced, making them hot property for potential buyers.

Bidding is open to both Australian and foreign buyers, with Shanghai Pengxin, who made two failed bids for the Kidman empire, expected to throw their hat into the ring.

The Foreign Investment Review Board will need to approve all bids for the FSF Falkiner group and has previously warned foreign investors from trying to buy out Australian icons, saying they are highly likely to be rejected.

The Kidman empire had a number of foreign bids, but a deal only went through when mining magnate Gina Rinehart stepped in with a joint China-Australia deal.

“We are selling all of the company or a share of it, but the properties will not be split up and sold separately,” Mr Bell told The Australian.

“We are being selective about who we approach — they have to be high-value individuals or companies both here or overseas with an interest in Australian agriculture — and what we are selling here is a profitable business, not just individual farms.”

What are your thoughts on this? Should businesses like this be made to stay in Aussie hands?