Monday, 22 July 2019 Sydney
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Invest In Australia Blog::

  • China Petrochemical Corp to acquire 15% of ConocoPhillips’ & Origin Energy Ltd’s planned Australian gas venture

    China’s second biggest oil firm, China Petrochemical Corp., or Sinopec, is to acquire a 15 per cent stake in a joint gas venture planned by ConocoPhillips and Origin Energy Ltd in Australia. The plans were unveiled by a statement from the Chinese firm, coming as part of a fuel-purchase agreement.

    Under the preliminary agreement, Sinopec Group will buy as much as 4.3 million metric tons of liquefied natural gas a year for two decades, the Beijing-based company said in a statement. However, speaking to reporters over the investment plans, Grant King, managing director of Sydney-based Origin Energy said the supply agreement would be the largest for any of the Queensland ventures intending to liquefy gas extracted from coal deposits.

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  • Fortis Global Healthcare Holdings acquires majority stake in Australia’s Dental Corporation Holdings

    Fortis Global Healthcare Holdings has hiked its stake in Australia’s Dental Corporation Holdings. Fortis announced it is to acquire a majority stake in the Australian firm, the move coming just two months after its acquisition of a 33 per cent stake in Dental Corporation Holdings. The previous 33 per cent stake acquisition cost Fortis approximately Rs 450 crore.

    Fortis Global is the wholly-owned overseas investment vehicle of the promoters of Fortis Healthcare Ltd, India’s second largest private hospital chain. The Australia based Dental Corporation has annual revenue of Rs 820 crore and is one of the fastest-growing dental chains in Australia.

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  • New York based Production Resource Group to acquire business and assets of Australia’s Bytecraft Entertainment

    New York based firm Production Resource Group (PRG) is to acquire the business and assets of Australia’s Bytecraft Entertainment. Production Resource Group is a leading global supplier of entertainment and event technology solutions. The US firm announced Thursday it will acquire the business and assets of Bytecraft Entertainment, a wholly-owned subsidiary of Staging Connections Group Limited.  

    PRG chairman and CEO Jeremiah Harris and Bytecraft Managing Director Stephen Found jointly announced the acquisition, which will be completed by the end of March.  Under the agreement, Stephen Found will continue in a leadership role with the company.

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  • Tyco International Ltd to acquire Oceania Capital Partners’ Signature Security Group

    Tyco International Ltd has reached an agreement with Oceania Capital Partners Limited (OCP) to acquire OCP's Signature Security Group for AU $171 million. Tyco intends to combine Signature Security's Australian and New Zealand operations with its ADT Security business under the ADT name, the firm stated in a press release.

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  • Oracle acquires intellectual property relating to environmental reporting software developed by Melbourne based Ndevr

    US based Oracle has acquired the intellectual property relating to environmental reporting software created by a Melbourne-based developer Ndevr. The Australian software developer Ndevr sold to Oracle the intellectual property pertaining to its greenhouse gas and environmental reporting software for Oracle's E-Business Suite and JD Edwards Enterprise One.

    The company has been a JD Edwards/Oracle certified partner for over 10 years, and was instrumental in the formation of an Australian property and construction special interest user group for the local JD Edwards user community. However, the financial details of the transaction were undisclosed.

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  • West Australia Holdings Ltd to acquire Seven Media Group

    West Australia Holdings Ltd is to acquire media firm Seven Media Group. The firm announced Monday it will be undertaking the investment targeted at creating Australia’s biggest diversified media business. The investment will be for a consideration of A$4.1 billion. The firm will be acquired from Seven Group Holdings Ltd. Post the acquisition, the new entity will be renamed Seven Media West.

    At a press briefing Monday, chairman of the West Australian independent board committee, Doug Flynn said the investment marks a transformational opportunity for the firm. Flynn said West Australia will become the leading multi-platform media business in Australia.

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  • UK based Clifford Chance LLP to merge with Sydney and Perth based firms

    The UK’s highest grossing agency, Clifford Chance LLP is keen on a merger with firms in Perth and Sydney in Australia. The move comes as part of Clifford Chance’s strategy to double receipts in Asia. Clifford Chance had 2010 revenue of 1.19 billion pounds.

    Clifford will merge with Chang, Pistilli & Simmons, a merger and acquisition adviser in Sydney, and Cochrane Lishman Carson Luscombe in Perth. According to Peter Charlton, head of Clifford Chance’s Asian operations, the mergers are in line with a strategy targeted at bolstering staffing in Tokyo, Beijing and Singapore and increase revenue in the region to 250 million pounds over the next four years.

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  • NBN Co to acquire AUSTAR’s 2.3 GHz and 3.4 GHz spectrum holdings

    NBN Co is to acquire AUSTAR’s 2.3 GHz and 3.4 GHz spectrum holdings, enabling NBN Co to roll out a high-speed fixed-wireless service to rural and regional areas. NBN Co is developing a wholesale high-speed broadband network which will be available to retail service providers on non-discriminatory terms, allowing RSPs to offer a range of plans and packages to consumers and businesses.

    The first NBN Co fixed-wireless commercial services are scheduled for delivery in mid 2012. NBN Co has previously outlined plans to deliver next-generation wireless and satellite services to seven per cent of premises outside its fibre footprint.

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  • Standard Chartered Private Equity to invest $83 million in Australia’s biggest livestock exporter Wellard Group

    Standard Chartered Private Equity Ltd (SCPEL) is to invest $83 million in the purchase of a stake in Australia’s Wellard Group Holdings. The firm is Australia’s biggest livestock exporter. Under its plans, the Standard Chartered Private Equity Ltd is to invest in Wellard via a convertible note.  

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  • Aspen Group purchases Australian Taxation Office Building in Adelaide

    Australian property investment and funds Management Company Aspen Group is to acquire the Australian Taxation Office (ATO) Building, located within the Central Business District of Adelaide, South Australia. The Taxation Office property comes as part of Aspen’s Development Fund (ADF) No.1’s impressive Adelaide City Central precinct. ADF is a development fund of which Aspen Group is fund manager and is the major shareholder.

    Aspen Group expects a starting net operating income of $14.3 million, representing an initial passing yield of 7.8% post the investment. Aspen also expects a substantial increase in the Group’s investment property portfolio weighted average lease expiry (WALE) from 2.4 yrs to 6.7 years on completion.

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