Sunday, 16 June 2019 Sydney

Invest In Australia Blog::

  • Fletcher Building Limited proposes to acquire all of the ordinary shares in Crane Group Ltd

    Fletcher Building Limited announced Thursday a proposal to acquire all of the ordinary shares it does not already own in Crane Group Limited. The proposed offer comprises one Fletcher Building share and A$3.43 in cash for each Crane share. The Offer will be made by Fletcher Building (Australia) Pty Limited, a wholly owned subsidiary of Fletcher Building, and is conditional on, among other things, the acquisition of 90 percent of Crane shares.

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  • Lanco Infratech Ltd to acquire 100% shares of Griffin Coal Mining Company and Carpenter Mine Management

    Lanco Infratech Ltd., through its step down Australian subsidiary, Lanco Resources Australia Pty Ltd., has concluded a binding agreement with Griffin Energy Group Pty Ltd and Carpenter Mine Management Holdings Pty Ltd to purchase 100% shares of Griffin Coal Mining Company Pty Ltd and Carpenter Mine Management Pty Ltd (Griffin Coal).

    Griffin coal, based out of Collie in Western Australia, owns the largest operational thermal coal mines in Western Australia. The mine currently produces over 4 mtpa of coal and can be ramped up to over 15 mpta in the near term, post development of evacuation infrastructure. The mining tenements contain over 1.1 billion tonnes of JORC compliant thermal coal resources.

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  • Oprah Winfrey’s visit to Australia is expected to signal increased international interest in the country

    Oprah Winfrey’s visit to Australia is expected to signal increased international interest in Australia in terms of investment opportunities and Tourism. As it is, signs are the trip might spark considerable international interest in the domestic property market, if analysts are to be believed.

    The shooting of the two episodes of her show in Australia is expected to witness increased interest among American property investors in the Australian property market – both residential and commercial. The visit in a way improves America’s overall awareness of Australia, as well as the rest of the world’s, noted analysts.

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  • Australian airline Qantas to buy local Western Australia operator Network Aviation

    Australia’s major carrier Qantas is to foray into Western expanse of the country with the purchase of Network Aviation, based in Western Australia. The move takes Qantas into the Australian fly-in-fly-out (FIFO) resources air charter market. The airline firm has reached an agreement for the purchase of local operator Network Aviation.

    Mr. Alan Joyce Qantas Chief Executive Officer said the acquisition stands to offer a strong growth opportunity, new revenue stream and further diversification for the Qantas Group. According to him, the Qantas Group has a very strong presence in Western Australia, operating passenger services across metropolitan and regional centers and connecting the state to its broader domestic and international networks.

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  • Fairfax Media Ltd buys Australia and New Zealand focused tendering website TenderLink

    Fairfax Media Ltd reported Monday the purchase of the Australian and New Zealand-focused tendering website TenderLink. According to its release, Fairfax undertook the investment for an estimated $NZ21.6 million ($A16.43 million).

    The diversified media house says TenderLink is the southern hemisphere's largest tender notification provider, with 99 per cent of all publicly advertised tenders from government and the public and private sectors passing through its systems.

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  • Australia's government unveils reforms to boost bank competition

    Reuters Sunday reported that Australia's government unveiled reforms to boost bank competition. The move is expected to allow lenders to issue covered bonds for the first time and crack down on interest rate, signaling under a package designed to calm voter anger at rising mortgage interest rates.

    Treasurer Wayne Swan said the reforms aimed to help mutual credit unions and building societies become a fifth pillar of Australia's finance sector, by making it easier for customers to leave the big four banks which currently dominate the home loan market.

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  • Singapore based Pacific Andes Resources Development Limited acquires Australia’s Tassal Group Limited

    Singapore based Pacific Andes Resources Development Ltd (PARD) has acquired 19.76 per cent of Australia’s Tassal Group Limited for A$51.7 million (approximately S$67.0 million). Tassal Group Limited is a vertically integrated salmon grower, processor, seller and marketer. The Investment offers platform to gain deeper understanding of a new seafood business with limited and highly protected supply coupled with strong demand, noted the Singaporean firm.

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  • International Engineering and Project Management company AMEC purchases majority shareholding in S2V Consulting Pty Ltd

    AMEC Wednesday announced it had bought a majority shareholding in S2V Consulting Pty Ltd, a leading consultancy to the oil and gas industry. The investment is aimed at forming a new partnership with S2V Consulting Pty Ltd in Australia. AMEC is an international engineering and project Management Company.

    The management of S2V Consulting will retain a significant stake in the business, and S2V Consulting will keep its independent brand and specialized service offering.

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  • 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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