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August 5, 2013

Australian mining magnate Gina Rinehart has offered an olive branch to her two children that are taking civil court action against her regarding the management of the family wealth and controlling shares in the family business.

Australian mining magnate Gina Rinehart has offered an olive branch to her two children that are taking civil court action against her regarding the management of the family wealth and controlling shares in the family business.

In an open letter to siblings John Hancock and Bianca Rinehart, the businesswoman – who at an estimated net worth of AUS$22 billion (€14.7 billion) is the country’s richest woman – said she was willing to appoint a co-trustee to the family trust.

October 31, 2012

Australia’s richest woman, Gina Rinehart, has received a blow after a court ruled that a lawsuit brought against her by her three children couldn’t be dismissed.

Australia’s richest woman, Gina Rinehart, has received a blow after a court ruled that a lawsuit brought against her by her three children couldn’t be dismissed.

The ruling comes on the back of a dispute among Rinehart family members. Three of the mining tycoon’s four children – John, Hope and Bianca – want to remove Rinehart from her role as the sole trustee of the family trust.

June 27, 2012

Family businesses across the world have been busy with sales and acquisitions recently – with brewing giant Anheuser-Busch InBev and Portuguese cork-maker Corticeira Amorim in an acquisition mood, while the Mulliez and Rinehart families are considering selling some of their interests.

Family businesses across the world have been busy with sales and acquisitions recently – with brewing giant Anheuser-Busch InBev and Portuguese cork-maker Corticeira Amorim in an acquisition mood, while the Mulliez and Rinehart families are considering selling some of their interests.

Belgium-based AB InBev is reportedly in discussions to buy the shares it doesn’t already own in fellow family business Grupo Modelo, the Mexican beer-maker that is behind brands such as Corona and Estrella.

May 9, 2012

In a new twist to the ongoing feud in Australia’s Rinehart family, the children of Gina Rinehart, the country’s richest person and head of the family’s mining business, can now claim their share of the family trust, but it may come at a price.

In a new twist to the ongoing feud in Australia’s Rinehart family, the children of Gina Rinehart, the country’s richest person and head of the family’s mining business, can now claim their share of the family trust, but it may come at a price.

Rinehart, who personally owns 75% of Hancock Prospecting, has changed the vesting date of the family trust from 2068 to April 2012, according to reports in the Australian press.

January 30, 2012

Bianca Hope Rinehart, daughter of Australia’s richest woman, has officially left the board of mining family business Hancock Prospecting, following a fall-out with her mother.

Bianca Hope Rinehart, daughter of Australia’s richest woman, has officially left the board of mining family business Hancock Prospecting, following a fall-out with her mother.

The 33-year-old, who was considered the heir-apparent to Gina Rinehart (pictured), was reportedly removed from the board of the family’s flagship iron ore business on 31 October last year.

November 8, 2011

Small-scale businesses dominate Australia's family business sector, but the country was also the birthplace of some of the world's most famous family business names, such as Rupert Murdoch. CampdenFB takes a look at some of the leading Australian family businesses in an interactive graphic.

Small-scale businesses dominate Australia's family business sector, but the country was also the birthplace of some of the world's most famous family business names, such as Rupert Murdoch. However, unlike Europe and Asia, the country's family business history is relatively short. Lionel Samson & Sons, thought to be Australia's oldest continuing family business, is six generations old.

September 19, 2011

Family-controlled Indian infrastructure company GVK Group, chaired by GV Krishna Reddy, is to acquire a majority stake in a company owned by Australia’s richest person, Gina Rinehart. Reddy and his family, estimated to be worth more than $1 billion (€733 million) according to Forbes, are buying a 79% stake in Hancock Coal and Infrastructure, a subsidiary of the Rinehart family business Hancock Prospecting.

Family-controlled Indian infrastructure company GVK Group, chaired by GV Krishna Reddy, is to acquire a majority stake in a company owned by Australia’s richest person, Gina Rinehart.

Reddy and his family, estimated to be worth more than $1 billion (€733 million) according to Forbes, are buying a 79% stake in Hancock Coal and Infrastructure, a subsidiary of the Rinehart family business Hancock Prospecting.

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