Wednesday, 22 May 2019 Sydney

Invest In Australia Blog::

  • Japanese subsidiary of Itochu Corporation acquires 15 per cent stake in Aston Resources Ltd’s Maules Creek Coal Project

    In an announcement Thursday, ITOCHU Minerals & Energy of Australia Pty Ltd, a subsidiary of Japan’s ITOCHU Corporation and Aston Resources Limited said they had signed an agreement that will see the Japanese firm acquire a 15 per cent stake in the Australian coal miner’s Maules Creek Coal Project. Aston Resources Limited is headquartered in Brisbane, Australia. The two firms have been in talks over the deal for over three months.

    ITOCHU Minerals & Energy of Australia Pty Ltd will acquire a 15 per cent interest in the Maules Creek Coal Project that Aston is developing after successful completion of the exclusive negotiations.

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  • Rio Tinto Group in talks with Riversdale Mining Ltd over an A$3.5 billion offer

    Australian mining giant Rio Tinto Group reported it held talks with Riversdale Mining Ltd regarding Rio Tinto’s offer of an A$3.5 billion. Rio's Tinto's A$3.5bn (£2.2bn) offer talks with the African coal producer Riversdale Mining is likely to spark a bidding war for the Australian-listed company.

    Riversdale confirmed Monday that it had received an approach from Rio, the world's third-largest mining group. According to Riversdale Mining, the firm had discussions with Rio Tinto concerning a possible transaction for an indicative consideration of A$15 per share. Riversdale shares surged 16pc to close at A$16.31 in Australian trade, some 9pc above the mooted deal price.

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  • Danish engineering group FLSmidth in bid to acquire Essa Australia

    Danish engineering group FLSmidth Monday announced it had launched a friendly bid to acquire Essa Australia Ltd. The investment, if successful, is geared at bolstering its position as a supplier to the mining industry in the country.

    In a statement to the securities exchange, Essa Australia said the offer price is A$0.73 cash per Essa share, subject to any dividend adjustment, adding that it had agreed to be bought and that the offer was recommended by its board.

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  • ESCO Corporation acquires all of the issued and outstanding shares of Austcast Pty Ltd in Brisbane

    ESCO Corporation reported it had acquired all of the issued and outstanding shares of Austcast Pty Ltd in Brisbane, Australia, and its subsidiary Newlcast in Dunedin, New Zealand. ESCO Corporation is a leading global provider of wear-parts and attachments for the mining and construction industries. The acquisition of these two foundries strengthens ESCO’s product offerings and expansion efforts in Australia by providing local foundry capacity.

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  • Canadian firm Agrium Inc. successfully completes acquisition of Australia’s AWB Ltd

    Canadian firm Agrium Inc. Friday said it has successfully completed its acquisition of AWB Limited (AWB) at a price of A$1.50 per share in cash (purchase price of A$1.236-billion) as agreed to in the Scheme of Arrangement, including the A$0.15 per share franked dividend paid on November 30, 2010.

    Mike Wilson, Agrium Chief Executive Officer and President said he was excited about the opportunity to merge AWB's strong market presence and extensive experience with Agrium's international crop input sourcing capabilities, with a view to further enhancing product and service offerings to Australian and New Zealand customers.

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  • Spain’s Ebro Foods acquires Australia’s Ricegrowers Ltd trading as SunRice

    Spain’s Ebro Foods announced Wednesday it had gone into an agreement with Australia’s Ricegrowers Ltd, trading as SunRice. In its release, Ebro Foods said that further to the announcement of 20 October 2010, Ebro Foods had entered into a Scheme Implementation Agreement with Ricegrowers Limited, trading as SunRice.

    Under the binding terms and conditions of the Scheme Implementation Agreement, Ebro Foods would acquire 100% of the capital of SunRice on the basis of an Enterprise Value of approximately A$600 million (€440 million).  

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  • US based data center reseller and hosting provider to facebook, Digital Realty Trust to spend $350 million on a data centre in Sydney

    US based data center reseller and hosting provider to facebook, Digital Realty is to spend $350 million on a data center in Australia. Digital Realty Trust is to set up a flag in Sydney for 2011 where it plans to spend $350 million on a data centre. Digital Realty has partnered with Macquarie Capital to bid for the NSW government's data centre consolidation project.

    Digital Realty Trust Asia-Pacific chief Kris Kumar said the firm has ambitious plans for regional growth, adding that the firm would like to see 10 per cent of global revenue coming from Asia-Pacific in the next few years.  

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  • UK based defense firm BAE Systems announces definitive agreement to acquire Australia’s Pty Ltd

    UK based defense firm BAE Systems announced it had gone into definitive agreement to acquire Pty Ltd, an information security company in the Australian and South East Asian region. BAE Australia's information security division will embed itself within Stratsec following the $24 million acquisition of the Sydney security consultancy.

    Nick Ellsmore, Stratsec chief technology officer said the investment was central to BAE's stated ambition to become a global player in protecting critical infrastructure from malicious attack and hardening it from human error. He was speaking on the sidelines of an AISA Conference in Sydney Tuesday.

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  • Diploma Group Limited acquires site for its new residential project in Perth's business district

    Diploma Group Ltd announced Monday it had acquired the site for its latest residential project. Diploma reiterated the site will be located in Perth’s business district at Adelaide Terrace. The site is an 872 square meter property is an addition to the company's presence in the area after having already finished developing high rise residential towers.

    The proposed high-rise residential development is slated to build 70 units of one to two bedroom apartments spread out in 20 floors and costing US$60 million. The construction period will take two years with a scheduled completion date in 2014. It will also include scenic views of the Swan River estuary.

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  • UK based Healthcare Locums plc enters an agreement to acquire Healthcare Australia Holdings Pty Ltd

    Healthcare Locums Plc announced it had gone into an agreement for the acquisition of the entire issued and to be issued share capital of Healthcare Australia Holdings Pty Ltd. In a release, the Board of Healthcare Locums Plc said the firm is to acquire the entire issued and to be issued share capital of Healthcare Australia Holdings Pty Ltd from certain CHAMP Private Equity funds and a small number of private individuals, for a total consideration of AU$122.5m (approximately £75.2m) payable in cash on completion.

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