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DomaCom and Lloyds partner on Kidman purchase

DomaCom and Lloyds partner on Kidman purchase

Reporter

Crowdfunding business DomaCom has teamed up with Lloyds Business Brokers in an attempt to acquire Kidman Station.

According to an announcement by DomaCom, this new strategy entails separating the buying of the land and its operating businesses.

DomaCom will continue to crowdfund the acquisition of the land, while Lloyds will find a buyer for the operating businesses.

"When you consider we have $75 million from 5,500 investors pledged already, our target is now only $210 million, and as the federal government is clearly concerned about Kidman slipping into foreign ownership, then we firmly believe there is a realistic opportunity to buy this massive pastoral station locally," said DomaCom chief executive Arthur Naoumidis.

Mr Naoumidis also noted that DomaCom has entered discussions with EY, which is handling the sale for the Kidman family, and has been given access to all the sale documents.

"This has been an important development because it means we can now go to potential investors armed with all the facts and figures about Kidman Station and its operating businesses," he said.

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DomaCom and Lloyds partner on Kidman purchase
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