Cubbie Station is almost certain to be sold to a Chinese company after Treasurer Wayne Swan gave foreign investment approval this week.
Cubbie Station is almost certain to be sold to a Chinese company after Treasurer Wayne Swan gave foreign investment approval this week.

Cubbie Station has officially been sold

CUBBIE Station has officially been sold to a Chinese-led consortium.

Administrators for Australia's largest cotton farm have signed a sale agreement with Chinese textiles company Shandong RuYi and Lempriere for an undisclosed sum.

Treasurer Wayne Swan approved the sale in August, inflaming tensions within the Coalition.Nationals Senator Barnaby Joyce was the most vocal critic of the sale, putting him at odds with the Liberal Party.

The new owners must report to the Foreign Investment Review Board annually.