Saturday, 22 July 2017 Sydney

Invest In Australia News::

  • US based Newpark Resources buys Rheochem Plc’s drilling fluids and engineering services unit

    US based Newpark Resources, Inc. is to acquire Australia based Rheochem Plc’s drilling fluids and engineering services unit.  Rheochem Plc is a publicly-traded Australian-based oil and gas company.  Rheochem provides drilling fluids and engineering services to the oil and gas exploration and geothermal industries with operations in Australia, New Zealand and India.

  • Fugro N.V. acquires Perth Based TSmarine Group Holdings(TSM) and its subsidiaries

    Furgo N.V. announced it has acquired TSmarine Group Holdings Pty Ltd (TSM) and all its subsidiaries. TSmarine is a Perth based specialist provider of subsea construction, IRM (inspection, repair and maintenance) and light well intervention. The acquired subsidiaries are based in Singapore, Labuan (Malaysia) and Aberdeen (UK).

    TSmarine operates ROV (Remotely Operated Vehicle) and diving services and has four high specification chartered vessels in its fleet. It is primarily focused in the Asia-Pacific region. Furgo expects the acquisition of TSmarine will enhance Furgo’s existing presence in the Asia-Pacific expanse. TSmarine recently established an office in UK to develop services in Europe and Africa.

  • Deloitte acquires Australia Access Economics

    Deloitte Australia Wednesday announced it has acquired Australia’s Access Economics. The move is expected to create Australia’s leading economics advisory practice to be known as Deloitte Access Economics.


    Commenting on the investment, Deloitte CEO Giam Swiegers said the firm has been witnessing a growing demand for expert knowledge and industry experience in economic consulting, modeling and forecasting for both the public and private sectors.


  • Furmanite Corporation expands its global on-site machining capabilities with Australia and US investments

    Furmanite Corporation has expanded its global on-site machining capabilities through the acquisition of Self Leveling Machines Pty Ltd and Self Leveling Machines, Inc. (collectively named SLM), based in Melbourne, Australia, and Houston, Texas. SLM is a recognized world leader in large scale on-site machining with capability to perform up to 100 foot diameter cuts at machine shop accuracy through its patented Self Leveling Technology.

    SLM provides engineering, fabrication and execution of highly-specialized machining solutions for large-scale equipment or operations, generating annual revenues of $7 million.

  • Centro Properties Group sells US assets and announces major restructure developments

    Troubled Australian firm Centro Properties Group Tuesday announced a proposed restructure that will see the firm sell its US assets following a competitive market process. Centro and its managed funds have entered into a binding stock purchase agreement with BRE Retail Holdings, Inc, an affiliate of Blackstone Real Estate Partners VI, L.P. to sell all of their US assets and platform for an enterprise value of approximately US$9.4 billion.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.  

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.