Monday, 22 July 2019 Sydney

Invest In Australia Blog::

  • Korean firms in quest to acquire Australia’s Whitehaven Coal Company

    Two Korean firms have expressed interest in acquiring Australia’s Whitehaven Coal Company. Korea Resources Corp and Daewoo International Corp made a non-binding offer to buy the Australian coal miner. Whitehaven is valued at $3.497 billion and has been on the market since late last year. Final bids are expected to be placed by April 2011.

    Whitehaven already runs a joint venture business with the two Korean firms in New South Wales. The JV is being undertaken at Whitehaven’s Narrabri North mine, in New South Wales. Commenting on the offer, Korea Resources spokesperson confirmed the firm was making a joint bid but disclosed no further information on the valuation of the bid.

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  • BMT Group acquires Australian port and harbor engineering group JFA Consultants

    BMT Group announced the acquisition of Australian port and harbor engineering group, JFA Consultants. BMT Group is keen on bolstering its Asia-Pacific base. BMT Group is a UK-based consultancy. Peter French, BMT chief executive said the company’s acquisition of the Perth-based consultancy would broaden its strengths in the fields of port development and coastal engineering, as well as giving it growth opportunities in the fields in which it currently worked.

    JFA director Jesz Fleming said the acquisition would expand its growth opportunities, benefiting staff and clients. BMT was recognized by non-profit organization Europe’s 500 as one of the fastest growing in Europe last week.

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  • AustralianSuper and Westscheme announced plans to merge to become $40b superannuation powerhouse

    AustralianSuper and Westscheme have announced they are to merge, a move that will create a strong 1.7 million member superannuation entity. The merger will result in a $40 billion superannuation powerhouse, said the announcement. As it is, a due diligence process is already underway and will be finalized by April. Upon successful completion of the due diligence, the two firms should be able to merge on 30 June 2011, stated the announcement.

    Post the merger, Westscheme members will benefit from AustralianSuper's size, security and expertise which will make a real difference to the retirement outcomes of members. The merger is tipped to trigger a wave of consolidation among the industry’s smaller players.

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  • Rio Tinto to invest over a $1 billion in its existing iron ore operations in Australia and Canada

    Australian international mining major Rio Tinto is to invest over $1 billion in its existing Australian and Canadian operations. The amount will go into the group’s existing iron ore operations in the two countries. In a statement, Rio Tinto said it had approved a $933-million investment to extend the life of the Marandoo iron ore mine by 16 years to 2030.

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  • Coal India Ltd to buy 15% stake in Australian assets of Peabody Energy Corp

    Coal India, a state owned mining entity, may be mulling the purchase of a 15 per cent stake in the Australian assets of Peabody Energy Corp, said a PTI report. Peabody Energy Corp is the world’s largest private Coal mining firm, based in the US. Coal India may be mulling the purchase of the Australian assets for an estimated $100 million.

    According to PTI, a Coal India official confirmed the two firms were currently engaged in advanced talks and may seal the deal in three months’ time. The official said an agreement had been reached on valuation, adding that Peabody will invest in equity and in return, Coal India will get the right for coal off take.

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  • Telstra’s advertising business Sensis acquires Life Events Media Pty Ltd

    Sensis has acquired Life Events Media Pty Ltd (LEM), one of Australia’s largest providers of request for quote services. LEM operates the online business ‘Quotify’, which has the exclusive license to Quotify Technology Inc’s (QTi) merchant-matching technology in Australia.

    Quotify helps consumers make purchase decisions by connecting them with pre-qualified service providers. Consumers log on to, or one of the 40 category specific sites in its network, and complete the selection criteria which helps determine the type of service required.  Information is processed and immediately sent to the service providers via telephone, email or SMS.

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  • Middle East based Bank of Beirut to acquire majority stake in Australia’s Laiki Bank

    Middle East based bank, Bank of Beirut sal agreed to acquire an 85% stake in Australia’s Laiki Bank. The investment is for a consideration of €104.3 million. Laiki Bank is owned by the Cyprus based group Marfin Popular Bank Public Co Ltd (MPB). Under the terms of the agreement, MPB will retain a 15% share in Laiki Bank and has an option to sell its remaining stake to Bank of Beirut after February 2013.

    The Australian Bank provides banking services and products to the Cypriot and Greek communities in Australia through a network of 10 branches and 125 employees. As of September 2010, Laiki Bank had assets of €680 million, loans of €543 million and deposits of €565 million.

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  • AMEC to acquire Australian specialist engineering consultancy for the oil and gas and resources industries

    AMEC is to acquire Zektingroup (Zektin), an Australian-based specialist engineering consultancy for the oil & gas and resources industries, from its owner-managers. AMEC is an international engineering and project Management Company. The transaction is closing later in February.

    Zektin is a 200-person engineering consultancy that provides front-end engineering design (FEED) and engineering services to the oil and gas market, in particular coal seam methane (CSM), and the controlled-environment market, which includes the bioprocess, biotechnology and pharmaceuticals sectors.

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  • Inglis acquires Australia’s leading online horse trading website

    Inglis has acquired Australia’s foremost thoroughbred classified website, Launched in 2009, has attracted over 8,000 listings from agents, trainers, breeders and owners looking to trade horses in between auctions.

    The website currently has more than 2,000 listings, including large numbers of broodmares, tried racehorses, weanlings, stallion shares and nominations for sale. The website also contains hundreds of interactive stallion profiles, allowing studs to promote their stallions to a wide audience with up to date and relevant information.

    With more than 60,000 visits to the website each month is popular with buyers from all over the world.

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  • India’s National Mineral Development Corporation (NMDC) to acquire two iron ore mines in Australia

    India’s National Mineral Development Corporation (NMDC) is likely to acquire two iron ore mines in Australia with a controlling stake before the end of the current fiscal year. NMDC Chairman and Managing Director, Rana Som announced the plans Friday during the Global Compact National Convention.

    According to Som, NMDC is to acquire three coal and three iron ore assets in Australia, Mozambique and Albania. Out of the three, two iron ore assets being acquired are already at exploration stage. Som noted that NMDC is currently leveraging its ability to explore in these areas and at this stage investment is not big.

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