Sunday, 25 February 2018 Sydney
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Invest In Australia Blog::

  • Metcash Trading Limited inks agreement deal to acquire Scanning Systems Australia

    Metcash Trading Limited announced it had reached an agreement for the acquisition of SSA Holding Pty Ltd, trading as Scanning Systems Australia or SSA. Metcash Trading is an Australian national grocery, liquor and hardware marketer and wholesaler. SSA provides advanced point of sale systems to independent retailers in the grocery, liquor, hardware, fuel and convenience sectors.

    Mr. David Hagen, SSA Managing Director commented that he was confident Metcash will continue building on the strengths of the Profit Track product suite and provide market leading solutions to independent retailers.

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  • Sotheby's International Realty Affiliates acquires rights to license Sotheby's International Realty(R) brand in Australia

    Sotheby's International Realty Affiliates LLC (SIRA) has acquired the rights from the Sotheby's auction house to license the Sotheby's International Realty(R) brand in Australia. The financial terms of the transaction were however not disclosed.

    Commenting on the acquisition, Michael R. Good, chief executive officer, Sotheby's International Realty Affiliates LLC, said the investment gives the firm representation in the Australian market, terming it a ‘critical international market.’ With the licensing rights for Australia acquired, the firm will focus on aggressively pursuing the finest local candidates to represent its business in the country, he said.

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  • MTQ Corporation acquires 15% stake in Australia’s Neptune Marine Services Limited

    MTQ Corporation Limited (MTQ), through its wholly owned subsidiary, Blossomvale Investments Pte. Ltd, Wednesday acquired 200 million new ordinary shares in Neptune Marine Services Limited, representing about 15% stake.

    Neptune provides offshore engineering solutions to the global oil and gas, marine and renewable energy industries. Headquartered in Perth, Western Australia, Neptune has a comprehensive focus on subsea services with operations spanning Australia and the United Kingdom.

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  • Fairfax Media acquires online accommodation booking company Occupancy for AU$29.1 million

    Australia’s leading diversified media firm, Fairfax Media, has acquired an online accommodation booking company for an estimated AU$29.1 million. Fairfax acquired Occupancy, which operates 2 websites that list holiday rental properties – Rentahome.com.au and Takeabreak.com.au.

    The deal will see Fairfax Media pay AU$11.2 million in shares and AU$17.9 million in cash. Existing shareholders will keep about 10% of the combined shares and Fairfax will hold 90%. The move is line with Fairfax’s strategy to get into the online holiday rental and corporate rental business, which saw the company take control of Stayz.com.au in 2005. They also control Holidayhomes.co.nz and Bookit.co.nz.

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  • India’s Lanco Infratech to acquire Australia’s Griffin Coal for A$730 million

    The Economic Times (ET) reported Friday India’s foremost infrastructure firm, Lanco Infratech is to acquire Australia’s Griffin Coal. According to the ET report, the investment is for a consideration of A$730 million, about Rs 3,400 crore. Lanco’s move comes amidst previous similar moves by Indian firms keen on securing resource supplies for their Indian units.

    According to the ET, it is the second biggest investment by an Indian company in Australia, after Adani Enterprises acquired Linc in August 2010 for $2.7 billion. Speaking to ET, Lanco’s chief financial officer, Suresh Kumar, said the acquisition of Griffin Coal will cater for about 30 per cent of Lanco’s overall coal needs to the year 2015.

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  • US based Newpark Resources buys Rheochem Plc’s drilling fluids and engineering services unit

    US based Newpark Resources, Inc. is to acquire Australia based Rheochem Plc’s drilling fluids and engineering services unit.  Rheochem Plc is a publicly-traded Australian-based oil and gas company.  Rheochem provides drilling fluids and engineering services to the oil and gas exploration and geothermal industries with operations in Australia, New Zealand and India.

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  • Fugro N.V. acquires Perth Based TSmarine Group Holdings(TSM) and its subsidiaries

    Furgo N.V. announced it has acquired TSmarine Group Holdings Pty Ltd (TSM) and all its subsidiaries. TSmarine is a Perth based specialist provider of subsea construction, IRM (inspection, repair and maintenance) and light well intervention. The acquired subsidiaries are based in Singapore, Labuan (Malaysia) and Aberdeen (UK).

    TSmarine operates ROV (Remotely Operated Vehicle) and diving services and has four high specification chartered vessels in its fleet. It is primarily focused in the Asia-Pacific region. Furgo expects the acquisition of TSmarine will enhance Furgo’s existing presence in the Asia-Pacific expanse. TSmarine recently established an office in UK to develop services in Europe and Africa.

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  • Deloitte acquires Australia Access Economics

    Deloitte Australia Wednesday announced it has acquired Australia’s Access Economics. The move is expected to create Australia’s leading economics advisory practice to be known as Deloitte Access Economics.

     

    Commenting on the investment, Deloitte CEO Giam Swiegers said the firm has been witnessing a growing demand for expert knowledge and industry experience in economic consulting, modeling and forecasting for both the public and private sectors.

     

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  • Furmanite Corporation expands its global on-site machining capabilities with Australia and US investments

    Furmanite Corporation has expanded its global on-site machining capabilities through the acquisition of Self Leveling Machines Pty Ltd and Self Leveling Machines, Inc. (collectively named SLM), based in Melbourne, Australia, and Houston, Texas. SLM is a recognized world leader in large scale on-site machining with capability to perform up to 100 foot diameter cuts at machine shop accuracy through its patented Self Leveling Technology.

    SLM provides engineering, fabrication and execution of highly-specialized machining solutions for large-scale equipment or operations, generating annual revenues of $7 million.

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  • Centro Properties Group sells US assets and announces major restructure developments

    Troubled Australian firm Centro Properties Group Tuesday announced a proposed restructure that will see the firm sell its US assets following a competitive market process. Centro and its managed funds have entered into a binding stock purchase agreement with BRE Retail Holdings, Inc, an affiliate of Blackstone Real Estate Partners VI, L.P. to sell all of their US assets and platform for an enterprise value of approximately US$9.4 billion.

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