Tuesday, 26 May 2020 Sydney

Invest In Australia Blog::

  • Mitsubishi UFJ Financial Group in talks to buy Australia based infrastructure advisory unit of RBS

    According to the Financial Times, Japan’s Mitsubishi UFJ Financial Group is in advanced talks to buy an Australia-based infrastructure advisory unit of Royal Bank of Scotland and its portfolio of public-private project-finance assets.

    MUFG, Japan's largest lender by assets, agreed to buy RBS project-finance assets in Europe, the Middle East and Africa worth 3.3 billion pounds ($5.3 billion) last year. The Japanese lender is also hiring some project-finance bankers from RBS, said Reuters.
    According to Reuters, a source familiar with the matter said the Australia talks were not at an advanced stage and a deal might not materialize. Representatives for MUFG and RBS Australia declined to comment, indicated the report.

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  • Peabody Energy to Acquire Thiess 5% Interest in Burton Coal Mine

    Peabody Energy has agreed to acquire Thiess’ 5% joint venture interest in the Burton Coal Mine for AU$35 million. In 1996, Thiess made a small strategic investment to assist with the development of the Burton Mine.

    While Thiess is fundamentally a mining contractor, the investment is consistent with the company’s approach to new projects. Given the continuing success of operations at the Burton Coal Mine, Thiess’ strategic investment is no longer required and the time is now right to sell down the investment, said Thiess in a release.

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  • Reserve Bank head warns over surge in anti-foreign investment in Australia’s resources sector

    The Australian Tuesday reported that Reserve Bank of Australia (RBA) board director Warwick McKibbin, cautioned against surge in sentiment against foreign investment in Australia's resources sector.

    According to the Australian, McKibbin warned that the ongoing anti-FDI sentiment is "counter-productive" and the Australian economy will suffer without capital from abroad.

    Professor McKibbin’s warnings come amidst the release of a research by the Greens into foreign ownership of Australia's mining industry, to prosecute their case for higher taxes on the sector, triggering an angry backlash from miners, said the report.

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  • Talisman Acquires Two Gold Exploration Projects in Western Australia

    Talisman Mining Ltd announced that it has further expanded and diversified its exploration portfolio by acquiring an 80% interest in the Muddawerrie and Livingstone Gold Projects, located in Western Australia’s northeastern Goldfields.

    The Muddawerrie Project is located 100km north west of Meekatharra and contains two demonstrably mineralized shear zones extending over a strike length of more than 16km within an Archaean greenstone belt.
    The Livingstone Project is located approximately 25km north west of the Muddawerrie Project and consists of three granted Exploration Licenses containing demonstrated gold endowment within the western extension of the Proterozoic aged Bryah Basin.

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  • Foster's Group Limited rejects unsolicited offer from SABMiller plc

    Foster's Group Limited (Foster's) announced Friday that it received an unsolicited, incomplete, non-binding and conditional proposal from SABMiller plc to acquire all of the shares in Foster's via a scheme of arrangement at a price of $4.90 per share in cash.

    However, the Board of Foster's reiterated that it believes the proposal significantly undervalues the company in the context of a change of control and, as such, does not intend to take any further action in relation to it. SABMiller's offer values the company at about $ 10 billion.

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  • Nuplex joint venture acquires Fibrelogic Pipe Systems

    Nuplex Industries today announced that it has formed a joint venture company with RPC Technologies to acquire Fibrelogic Pipe Systems (Fibrelogic) for A$26 million, subject to final completion.

    This represents a 3.5x average historical enterprise value to EBITDA multiple and Nuplex expects its share will make a small positive contribution to its 2012 financial year earnings per share.
    Emery Severin, CEO of Nuplex noted that when the company’s composites business was assessed as part of its recent group wide strategy review, opportunities for growth were examined.

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  • APA acquires wind farm and announces $300 million capital raising

    Australia’s largest gas infrastructure business APA Group (APA) Friday announced it would acquire the 80 MW Emu Downs Wind Farm in Western Australia and development rights for an adjacent 130 MW development site (collectively "Emu Downs") for $171 million. The acquisition is underpinned by a 20 year revenue agreement.
    APA plans to raise $300 million through an institutional placement to fund this acquisition and to partially fund the organic expansion of its energy infrastructure portfolio across Australia over the period to June 2012.

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  • Netregistry Group acquires Distribute.IT

    The Netregistry Group Thursday announced that it has acquired Distribute. IT plus ‘Click n Go’ customers and assets. Netregistry will be assisting with resources and solutions to all Distribute.IT customers in distress following the extremely unfortunate recent hacking attack.

    Netregistry reiterated that as a strong market leader within the industry, it is in a position to offer a stable cloud infrastructure solution to the thousands of customers whose business and livelihoods have been affected.

    Commenting on the acquisition, Larry Bloch, CEO of the Netregistry Group noted that the company’s concern for the consequences to Distribute.IT staff, management and customers of the firm’s unfortunate incident.

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  • Stockland Continues to execute its 3-R Growth Strategy with additional property acquisitions

    Stockland is acquiring two major residential projects in Western Australia and a new shopping centre in one of Victoria’s fastest-growing corridors, in two separate transactions involving asset swaps for office assets.

    In a transaction with Brookfield, Stockland will acquire two residential projects in the north east corridor of Perth for $271 million, and sell its 50 per cent holding in Perth’s BankWest Tower for $130 million, giving Brookfield sole ownership of the building.

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  • Franklin Templeton Investments to acquire Balanced Equity Management

    Franklin Resources, Inc. (NYSE: BEN), a global investment management organization operating as Franklin Templeton Investments, Tuesday announced that Franklin Templeton Investments Australia Limited has agreed, subject to normal closing conditions, to acquire Balanced Equity Management Pty. Limited, in a cash and stock transaction. The purchase price has not been disclosed. The acquisition is expected to be completed in early July.

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