DomaCom teams up with Lloyds on Kidman acquisition

Crowdfunder DomaCom has joined forces with Lloyds Business Brokers with a "fresh strategy" for the acquisition of Kidman Station.

According to an announcement from DomaCom yesterday, this new strategy entails separating the buying of the land and 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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