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Invest In Australia Blog::

  • Minor International completes acquisition of 34.4 per cent stake in Australia’s Oaks Hotels & Resorts

    Minor International PCL acquired a 34.4 percent stake in the Australian-based Oaks Hotels & Resorts Limited held by PricewaterhouseCoopers as receivers and managers. The acquisition takes the company’s relevant interest in Oaks to a 54.3 percent controlling stake, only conditional upon obtaining a relief consistent with regulatory guidelines.

    In March 2011, Minor International announced its intention to acquire a majority stake in Oaks, which presently operates 38 serviced apartment hotels across Australia, New Zealand and the Middle East. At that time, Minor International acquired a 19.96 percent stake in the company with an investment of AU $12 million.

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  • East Asia Minerals Corp. to acquire Australia’s Carbon Conservation Pty Ltd

    East Asia Minerals Corporation is to acquire 50 per cent equity interest in Australia’s Carbon Conservation. Under the agreement, East Asia Minerals will pay a total of US$0.5 million and issue 2,500,000 shares to CC, and an additional sum as follows;
     
    The first tranche will be US$250,000 paid within 5 days of execution of the agreement, subject to Board of Directors’ approval, and, US$250,000 within 5 days of execution of the Formal Agreement.

    Dorjee Sun, the CEO of CC, said this is a truly innovative and ground breaking tie up. The Aceh Governor's Aceh Green Economic Development plan heralded exactly this type of cutting edge sustainable industrial scale project, he said.

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  • Electronic Arts Inc. acquires Melbourne based Firemint Pty Ltd

    Electronic Arts Inc. Tuesday announced it has reached an agreement to acquire Firemint Pty Ltd., the leading independent mobile development studio. Based in Melbourne, Australia, Firemint brings a proven powerhouse of creative talent to Electronics Arts, with original hits Flight Control and Real Racing for iPhone® and iPad™, and an attractive future slate of games. The deal is not material to EA overall and is expected to close within four weeks.

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  • India's Adani Enterprises to purchase Abbot Point Coal Terminal in Australia for $2 billion

    India’s Adani Enterprises has agreed to buy Australia’s Abbot Point Coal Terminal for an estimated $2 billion. The investment is an all-cash consideration and aims at helping Adani Enterprises benefit from the increasing Coal traffic in foreign markets. Reuters’ reports indicated that a unit of the Indian firm had revealed the plans Tuesday.

    The growing demand for Coal in India has seen Indian firms increasingly acquiring foreign coal assets to supply Indian power plants. Indian firms are keen on taking advantage of the country’s estimated 14 per cent peak-hour power deficit within two years.

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  • Tyco International completes acquisition of Signature Security from Oceania Capital Partners Limited

    Tyco International Ltd has completed its acquisition of Signature Security from Oceania Capital Partners Limited. Signature Security will now be combined with Tyco’s ADT Security business.

    Signature Security is a leading provider of electronic security services in Australia and New Zealand, providing security installation and monitoring services to more than 90,000 premises, with annualized revenue of approximately AU$80 million.

    ADT Security, part of Tyco’s security solutions business, is the world’s largest electronic security provider with approximately 9 million customers around the world and annual revenue of more than US$7.7 billion.

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  • Shareholders approve Foster's Demerger of Treasury Wine Estates

    Shareholders of Fosters Group have strongly voted to approve the demerger of the company into two separately listed companies focusing each on beer and wine. Shareholders met in Melbourne on Friday morning to vote on the board's proposal to demerge the business, to allow each side of the company to focus more effectively on its business.

    At the meeting in Melbourne, 98.6 per cent of proxy votes (representing 1.17 billion shares) supported the demerger proposal, with 0.3 per cent of shares voted against

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  • Blackstone to acquire Australia based Valad Property Group for $226 million

    U.S. based private equity firm Blackstone is to acquire Australian property firm Valad Property Group. The deal places the value of the Australian firm at approximately A$207 million. Valad Property Group is a real estate investment group with an international network of offices.

    In a statement, Valad said Balckstone had offered A$1.80 per security. The cash price of A$1.80 per security under the Transaction represents a premium of 56% over the closing price on 27 April 2011 of A$1.155, being the last trading day before the announcement.

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  • Mutiny Gold Ltd keen to acquire Gold Project in Western Australia from JV partner

    Redhill Resources Corp. announced it has received a notice of intention from its joint venture partner Mutiny Gold Ltd that it wishes to expedite its right to acquire a 100% ownership of the Gullewa Gold Project in Western Australia. Redhill will retain a 10% net profit interest from production.

    Under the terms of the Gullewa farm-in Option Agreement between Redhill's subsidiary, ATW Gold Corp Australia Pty Ltd, and Mutiny Gold Ltd., Mutiny may earn a 70% interest in the Gullewa Copper-Gold Project in Western Australia by paying, to ATW Australia, a total of AU$9 million on or before October 24, 2011.

    Redhill's 100% interest in the Gullewa Project was originally acquired from Sherwin Iron Ltd. (formerly Batavia Mining Ltd).

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  • Nature Conservancy buys Fish River Station in Northern Australia

    The Nature Conservancy, with funding from the 3M Foundation and in partnership with the Pew Charitable Trusts, the Australian Government and the Indigenous Land Corporation (ILC), helped purchase Fish River Station in Northern Australia. The acquisition protects over 450,000 acres of highly biodiverse land as well as important floodplains for the Daly River.

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  • Barrick Gold Corporation to acquire International Australian Canadian miner Equinox Minerals Limited

    Barrick Gold Corporation announced Monday that it has entered into a support agreement with Equinox Minerals Limited for Barrick to acquire, through an all-cash offer, all of the issued and outstanding common shares of Equinox (including the shares represented by Equinox's CHESS Depositary Interests) by way of a friendly take-over offer.

    The Offer is for C$8.15 per Equinox share in cash, or a total of approximately C$7.3 billion. The offer represents a 30% premium based on Equinox's closing share price on the Toronto Stock Exchange on February 25, 2011 (the last trading day before Equinox announced its intention to make a take-over bid for the common shares of Lundin Mining Corporation).

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