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Invest In Australia News::

  • Automotive Holdings Group acquires Coventry’s automotive parts distribution business in WA and Harris Refrigerated Transport

    Automotive Holdings Group Limited (AHE) announced Friday that it has reached agreement to acquire Coventry’s automotive parts distribution business in Western Australia and Harris Refrigerated Transport, expanding its automotive parts distribution and refrigerated transport operations.

    Coventry’s automotive parts distribution division distributes genuine and non genuine automotive parts and accessories to the automotive, mining and industrial sectors in Western Australia. It has 26 branches across Perth and country Western Australia, employs approximately 430 people and has sales revenue of approximately $130 million per annum.

  • NTT Com acquires majority stake in Australia’s Frontline Systems Australia

    NTT Communications Corporation (NTT Com) Thursday said it will purchase 70% of the issued shares of Frontline Systems Australia Pty Ltd. The Australian firm provides IT infrastructure, IT consulting and managed services.

    The alliance will enable NTT Com to expand its range of high-quality global ICT services to meet multinational companies’ growing needs for globally seamless, one-stop solutions for networks, infrastructure and cloud provisioning.

  • Apex Fund Services forays into Australia

    Apex Fund Services, one of the world's largest independent fund administration companies, announces the opening of its first office in Australia. The Apex Sydney office has been launched following the acquisition of Lazorne Fund Administration Service from Lazorne Group Pty Ltd.

    Apex also intends to open an office in Melbourne during the second half of this year which will be a specialist independent administration business aimed at servicing superannuation funds. Apex intends to grow its Australian offices to 100 people within five years.

  • China's Yanzhou Coal Mining Co. in bid to acquire Australian coal miner Whitehaven Coal

    Chinese miner Yanzhou Coal Mining Co. has offered more than $3.7 billion for Australia’s Whitehaven Coal Ltd. Yanzhou Coal Mining Co is China's fourth-largest coal producer.

    According to China Daily, the move comes as Yanzhou Coal Mining Co. attempts to secure more overseas resources to meet swelling domestic demand. If the acquisition pulls through, it will be the Chinese miner’s biggest overseas acquisition. The investment would follow Yanzhou Coal Mining Co.’s acquisition of Australia's Felix Resources Ltd for $3.2 billion.

    Towards the end of last month, the Australian miner said it was nearing the conclusion of the bidding, with the Chinese miner and India’s Aditya Birla Group as amongst the short-listed firms.

  • ABB buys Australia based Mincom from Francisco Partners

    Zurich based ABB, the global power and automation technology group, has agreed to acquire Mincom to broaden its software portfolio and establish the Group as a leader in enterprise asset management (EAM) software and services.

    ABB is acquiring the Brisbane, Australia-based Company from Francisco Partners, a private equity group that invests in technology businesses, for an undisclosed sum. The transaction is subject to customary regulatory approvals.

    Mincom brings expertise and experience in a range of industries, and a comprehensive set of solutions for applications such as EAM, mining operations and mobile workforce management. Mincom has nearly 1,000 employees and annual revenues of approximately $200 million.

  • Symbion furthers its growth with acquisition of Lyppard Australia Limited

    Symbion Pharmacy Services signaled its intentions for further growth with the announcement that it has signed an agreement aimed at acquiring Lyppard Australia Limited. Lyppard is one of Australia’s leading veterinary wholesalers with sales revenue of approximately $165 million.

    Symbion has signed a Scheme Implementation Agreement under which it proposes to acquire all of the outstanding shares in Lyppard via a scheme of arrangement with the transaction expected to be finalized by early July (subject to applicable approvals and conditions).

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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

  • 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.

  • 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).

  • 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.

  • 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).

  • GCS completes acquisition of major Western Australia Labor Hire Group

    Construction services group Global Construction Services Limited has acquired Global Industrial Services (GIS), a leading provider of specialized labor hire in Western Australia (WA). The purchase consideration is a cash payment of $16.4 million and the issue to the GIS vendors of 14.3 million shares in GCS.

    At a price of $1.80 per GCS share, the total consideration for the GIS acquisition is approximately $42 million. In 2011 Fiscal Year, GIS is expected to generate revenue of approximately $60 million and normalized EBITDA of approximately $8.2 million.

    Enzo Gullotti, GCS Group managing Director said the acquisition is expected to be EPS accretive in FY12 and will deliver strong margins and strong positive cash flow.

  • Meteoric Resources has acquired a 500sq km package of exploration licenses in Western Australia

    As part of its regional appraisal of the unexplored West Arunta region of Western Australia, Meteoric Resources has acquired a 500 square km package of exploration licenses over a cluster of more than 50 discrete, high frequency magnetic anomalies evident from regional aeromagnetic data in the Webb area.

    Meteoric’s geophysical consultants had earlier advised that the magnetic character of these anomalies is consistent in shape, size and amplitude with those associated with some kimberlite and lamproite pipes in Archean cratons and Proterozoic mobile belts.

  • Foley Family Wines New Zealand acquires minority stake in Australian wine company Wineinc

    Bill Foley, owner and operator of Foley Family Wines, announced that Foley Family Wines New Zealand has acquired a non-controlling interest in Australian wine company Wineinc, developer of acclaimed Australian wines Gotham, Wine Men of Gotham, Stalking Horse, Rusty Gate, Mastermind and StepXStep (SXS in the U.S.).  

    Wineinc was founded in 2004 by Bruce Clugston and Fiona White. The wines have very wide appeal in many countries including Australia, USA, Singapore, Japan and China.

    According to Foley, the partnership with Wineinc marks an important milestone. Their highly successful wines represent the best of Australia and will allow the firm to expand the global reach of its portfolio.

  • MDS Financial Group acquires MINC Financial Services

    Assets of collapsed MINC Financial Services were acquired Wednesday by MDS Financial Group, in a move which places MDS Financial in a strategically strong position and provides continuity of service for MINC clients affected by the company’s recent move to voluntary administration.

    Under the terms of the agreement reached with MINC Financial’s appointed administrator, MDS Financial Group will acquire the online trading business of MINC, its national client lists, the private client business, and advisors in Townsville, Bunbury, Gold Coast and Melbourne.

  • Xstrata Copper to acquire advanced Copper Projects in North West Queensland

    Xstrata Copper has entered into an agreement with Exco Resources Ltd to acquire the E1 and Monakoff copper tenements in North West Queensland, Australia. The investment is for a cash consideration of AU$175 million and is aimed at expanding production at Xstrata’s Ernest Henry Mining operation.

    However, the transaction remains subject to a number of conditions being satisfied including Exco shareholder approval. Strategically located close to the Ernest Henry Mining processing facilities, the E1 and Monakoff tenements contain open pit copper mineral resources with completed Feasibility Studies.

  • Qube picks up DP World’s Shareholding in P&O Trans Australia

    Qube Logistics is to increase its shareholding in POTA Holdings Limited to around 94.5% through the exercise of call and put options with DP World (POSN) Pty Limited (DP World), the other major shareholder in POTA.

    The total amount payable in respect of the exercise of the call and the put options will be $106 million which includes the purchase of DP World’s shares and related loans. POTA is the business that forms Qube’s Landside Logistics division.

    This business, which operates under the trading name P&O Trans Australia, provides a comprehensive range of logistics solutions on a national basis focused on the import / export supply chain for containerized cargo.

  • Canadian firm acquires two Australian firms, CSSP and Kensington Computer Services

    Explorer Software Group announced it had acquired CSSP, the largest provider of software solutions for the Australian construction market. However, Explorer followed the investment in CSSP with the acquisition of a second Australian firm, Kensington Computer Services.

    CSSP has been designing and selling its own range of integrated and creative information management and control systems for all aspects of the construction industry for more than two decades now. It is dedicated to producing cost-effective and highly-productive computer systems, utilizing the best of current technology tools.

  • Print Media Group expands with acquisition of Moore Australia’s western Australian operations

    In a bid to expand its business, Print Media Group (PMG) has purchased Moore Australia’s western Australian operations. The company said the investment is in line with its national focus. With the latest expansion move, Print Media Group acquires Moore’s sales and business operations.

    Print Media Group Managing Director, Leo Moio, commented that the arrangement firmly places Print Media Group as a nationally focused organization. Mr Moio said the acquisition of Moore in Western Australia is a strategic step to support the firm’s Western Australia and national clients and increase its presence in the Health market nationally.