Sunday, 23 July 2017 Sydney

Invest In Australia News::

  • Diversified Mining Services Limited (DMS) acquires two highly successful Australian businesses

    Leading mining services firm Diversified Mining Services Limited (DMS) announced the acquisition of two local Australian businesses, as it seeks to bolster its offering in Hunter Valley. DMS said it has stepped up its presence in the Hunter Valley with the acquisition of two highly-successful local businesses which will further expand the company’s offering to the region’s vast mining industry.

  • Games studio Firemint invests in Infinitive Interactive for a 100% takeover

    Games studio Firemint Thursday announced it has acquired fellow Australian studio, Infinite Interactive in a move aimed at bolstering Firemint’s strength in designing and developing original games, while providing the Infinite Interactive team with a channel for independent publishing.

    Founded about a decade ago, Firemint became a highly regarded work-for-hire mobile games studio before shooting to fame with iPhone hits “Flight Control” and “Real Racing” in 2009. Firemint has recently expanded to additional platforms including Nintendo DSiWare, Sony PlayStation Network, and Steam (PC and Mac). The studio now works exclusively on self-published original games.

  • BigAir signs binding agreement to acquire AccessPlus for $5 million

    In a bid to increase its market share in Australia’s university-aged wireless internet users, BigAir announced the signing of an agreement that will see it acquire AccessPlus. The investment is worth $5 million. AccessPlus is an outsourced managed internet services firm and principally focuses on the tertiary accommodation market, with some 20 sites under management in Australia.

  • Asset International Inc acquires Australia’s Plan For Life

    Asset International, Inc. (AI), a global provider of data and analytics, workflow tools, research, marketing support and events for the asset management industry worldwide, has acquired Plan For Life, a leading provider of business intelligence data and research for the Australian managed fund and life insurance markets, announced the firm in a press release.

    Headquartered in Melbourne, Plan For Life (PFL) is the foremost independent source of sales and related data on the managed fund and life insurance markets in Australia and New Zealand for fund managers, life offices, analysts, dealer groups and government bodies.

  • Avnet Inc. completes acquisition of Australia’s itX Group Limited

    Avnet Inc. announced today that it has completed its acquisition of itX Group Limited (itX), a leading Australian value-added distributor of IT software, hardware and services, in an all cash merger valued at AU$77.5 million (USD$79.1 million). itX distributes products and services from the world's leading IT suppliers including Oracle, IBM, HP, VMware, Apple, Citrix, Red Hat, and Trend Micro.

  • Goodman in offer to acquire 100% of ordinary units in ING Industrial Fund in Australia

    Goodman Group (Goodman) and its three global investors (the Consortium) today announced that they have made a cash offer to acquire 100% of the ordinary units in ING Industrial Fund. An Implementation Agreement has today been signed with ING Management Limited (IML) as responsible entity of the ING Industrial Fund (IIF), said the release.

    The offer relates to a portfolio of prime logistics assets valued at around €1.8 billion (A$2.5 billion). There are 60 properties in total; 44 in Australia and 16 in Europe. The European properties in Germany, Spain and Belgium are valued at approximately €200 million.

  • Chinese firm Yanzhou Coal Mining to inject 5.9 Yen billion into Yancoal Australia Pty Limited, its Australian subsidiary

    Reports have indicated that Chinese firm Yanzhou Coal Mining is mulling an investment of 5.9 billion Chinese Yen (CNY) into Yancoal Australia Pty Ltd. Yancoal Australia Pty Limited is Yanzhou Coal’s Australian subsidiary and has additionally approved the latter’s acquisition of a 30 per cent stake in Austar Coal Mine for CNY 1.66 billion.

    Under the investment, the total equity investment will increase from A$64 million to A$973 million, subsequent to the injection of CNY 5.9 billion or A$909 million into the subsidiary. Yancoal Australia will also inject CNY 1.66 billion or US$250 million to acquire a 30 per cent stake in Austar Coal Mine from a subsidiary of IMC Group to hold a 90 per cent stake in Austar Coal Mine.

  • ComTel acquires dgm Australia in move to strengthen its position in the market

    ComTel Friday announced it had acquired dgm Australia as it seeks to reinforce its offering and position in the Australian market. Chris Meehan, ComTel Managing Director said the acquisition strengthens the Company’s presence in Australia’s rapidly growing online advertising sector. According to him, dgm has been operating in the performance-based sector since 2003, offering clients online marketing programs across multiple channels such as affiliate marketing, search engine optimization, pay per click advertising and online display.

  • Australia is a favorite for foreign direct investments from India & China, outside of Asia

    The IBM annual Global Business report revealed that Australia is amongst the top ten FDI destinations from emerging nations such as India and China. Companies from emerging countries in general, and India and China in particular, are becoming prominent overseas investors, with substantial job creation overseas as a result. With the continued rise in prominence of these countries on the global economic stage, their role as sources of investment is expected to further increase, said the report.

  • Japanese insurer Dai-ichi Life Insurance Co to purchase Tower Australia Group for $1.2b

    Japanese insurer Dai-ichi Life Insurance Co. is to acquire Tower Australia Group Ltd. In a press release, the Japanese firm announced it will undertake the investment for about 99.6 billion yen ($1.2 billion).  Dai-ichi Life Insurance Co expects the deal to provide it with a platform for overseas expansion.  The firm is Japan's second-largest life insurer.

  • Consortium acquires stakes in five undeveloped coal assets in Australia from Anglo American Plc

    Anglo American plc announced that it has completed the sale of its interests in five undeveloped coal assets in Australia to a consortium composed of Korea Electric Power Corporation, POSCO and Cockatoo Coal Limited, an Australia-based coal exploration company. The investment is for a cash consideration of A$577 million.  

  • International Public Partnerships Limited to purchase an additional 50% interest in two of its Australia projects

    International Public Partnerships Limited (INPP) announced that it has signed an agreement to acquire an additional 50% interests in two of its Australian projects, Long Bay Forensic Prison Hospital in Sydney and the Melbourne Showgrounds project. The move is expected to take the Company's interest in both projects to 100%. Completion of the acquisition is expected in January 2011 following satisfaction of certain procedural conditions.

    The additional interests are being acquired from Brookfield Infrastructure Partners L.P. for a total consideration of approximately $15.25 million. The purchase price reflects the acquisition of the assets on a basis that is both accretive to the Company in net asset value terms ("NAV") and in terms of yield.

  • Irish bookmaker Paddy Power to purchase remaining stake in Australia’s Sportsbet

    In a move that gives full control of Australia’s Sportsbet, Irish bookmaker Paddy Power reported it had agreed to buy the remaining shares in Australian betting company Sportsbet. Under the terms of the agreement, Paddy Power will pay 132.6 million Australian dollars ($133m; £86.2m) for the 39.2 per cent stake that it does not already own. Paddy Power first bought 51% of Sportsbet in 2009. The overall buyout, which increases its exposure to online betting in Australia, is expected to complete by the end of February 2011.

  • Rio Tinto Group offers 3.9 billion for Riversdale Mining Ltd

    Rio Tinto Group and Riversdale Mining Limited have entered into a Bid Implementation Agreement (BIA) for a cash offer by Rio Tinto to acquire all of the issued and outstanding shares of Riversdale by way of a recommended off-market takeover offer.

    The Offer price of A$16 per share values Riversdale at approximately A$3.9 billion. The Offer price represents a 46 per cent premium to the one-month volume weighted average price (VWAP) of Riversdale shares to 3 November 2010 and a 24 per cent premium to the one-month VWAP of Riversdale shares to 3 December 2010. The Offer will be financed through Rio Tinto's existing cash reserves and credit facilities, said Rio in a release.  

  • India based Stride Arcolab’s Subsidiary Linkace Investments acquires outstanding shares in Ascent Pharmahealth Ltd for $100 million

    Linkace Investments Pty Ltd is set to acquire outstanding minority shares in Ascent Pharmahealth Ltd, Australia for a total consideration of $100 million. The investment is still subject to regulatory approvals. Linkace Investments Pty Ltd is a wholly owned subsidiary of Stride Arcolab. Under the scheme, Ascent shareholders will receive $0.40 in cash per share.

    The Independent directors of Ascent will commission an Independent Expert's report from KPMG to assess whether the scheme is in the best interests of Ascent shareholders. Ascent sells over 400 products in eight countries. It is one of Australia's and Asia's fastest growing and most dynamic pharmaceutical businesses.

  • Fortis Global Healthcare Holdings to acquire 30 per cent stake in Australia's Dental Corporation

    Fortis Global Healthcare Holdings will acquire 30 per cent stake in Australia's Dental Corporation for about A$100 million. Fortis Global Healthcare Holdings will get nearly 30 per cent stake in Dental Corp, subject to shareholder and regulatory approvals, Fortis Global Healthcare Holdings said in a statement.  

    Fortis Global Healthcare Executive Chairman Malvinder Mohan Singh said Dental Corporation’s model of business partnership with principal dentists is a significant point of differentiation driving the success of the business and its rapid growth, while being the most effective way to manage high performing professionals.

  • Lend Lease enters agreement to acquire 100% of Valemus Australia from Bilfinger Berger SE

    Lend Lease Tuesday announced it has entered into an agreement with Bilfinger Berger SE to acquire 100% of Valemus Australia (Valemus), the parent company of Abigroup, Baulderstone and Conneq, for a purchase price of A$960 million. The Valemus businesses are leading providers of services in the engineering, construction, residential and non residential building, and engineering services markets in Australia.

  • Canadian firm Pure Technologies concludes purchase of Sydney based Aqua Environmental

    Canadian firm Pure Technologies announced the completion of its purchase of Sydney-based Aqua Environmental. The investment was undertaken for a consideration of up to $CAD5.88 million in cash and common stock of Pure. Aqua provides services relating to water main leak detection, water loss management and pipeline condition assessment in Australia and New Zealand.

    According to Pure, the acquisition positions the firm to build on the established expertise and have a presence in the Australian region, which holds significant opportunity. The move comes as the latest in a string of acquisitions for the Canadian company who have also bought up Pressure Pipe Inspection Company and Jasons Consultants.

  • Pan Pacific Hotels Group subsidiary acquires Hilton Melbourne Airport Hotel in Australia

    Pan Pacific Hotels Group announced that its wholly-owned subsidiary, Success City, had agreed to acquire Hilton Melbourne Airport Hotel in Australia. The Pan Pacific subsidiary will part with about $141.6 million for the investment, coming as part of its regional expansion plans.

    Pan Pacific, part of the UOL Group, said it planned to manage the 276-room hotel under its Park Royal brand. The acquisition could, through economies of scale and greater brand awareness, enhance the operating efficiency of its three other hotels in Australia, it said.

  • Fletcher Building Limited proposes to acquire all of the ordinary shares in Crane Group Ltd

    Fletcher Building Limited announced Thursday a proposal to acquire all of the ordinary shares it does not already own in Crane Group Limited. The proposed offer comprises one Fletcher Building share and A$3.43 in cash for each Crane share. The Offer will be made by Fletcher Building (Australia) Pty Limited, a wholly owned subsidiary of Fletcher Building, and is conditional on, among other things, the acquisition of 90 percent of Crane shares.

  • Lanco Infratech Ltd to acquire 100% shares of Griffin Coal Mining Company and Carpenter Mine Management

    Lanco Infratech Ltd., through its step down Australian subsidiary, Lanco Resources Australia Pty Ltd., has concluded a binding agreement with Griffin Energy Group Pty Ltd and Carpenter Mine Management Holdings Pty Ltd to purchase 100% shares of Griffin Coal Mining Company Pty Ltd and Carpenter Mine Management Pty Ltd (Griffin Coal).

    Griffin coal, based out of Collie in Western Australia, owns the largest operational thermal coal mines in Western Australia. The mine currently produces over 4 mtpa of coal and can be ramped up to over 15 mpta in the near term, post development of evacuation infrastructure. The mining tenements contain over 1.1 billion tonnes of JORC compliant thermal coal resources.

  • Oprah Winfrey’s visit to Australia is expected to signal increased international interest in the country

    Oprah Winfrey’s visit to Australia is expected to signal increased international interest in Australia in terms of investment opportunities and Tourism. As it is, signs are the trip might spark considerable international interest in the domestic property market, if analysts are to be believed.

    The shooting of the two episodes of her show in Australia is expected to witness increased interest among American property investors in the Australian property market – both residential and commercial. The visit in a way improves America’s overall awareness of Australia, as well as the rest of the world’s, noted analysts.

  • Australian airline Qantas to buy local Western Australia operator Network Aviation

    Australia’s major carrier Qantas is to foray into Western expanse of the country with the purchase of Network Aviation, based in Western Australia. The move takes Qantas into the Australian fly-in-fly-out (FIFO) resources air charter market. The airline firm has reached an agreement for the purchase of local operator Network Aviation.

    Mr. Alan Joyce Qantas Chief Executive Officer said the acquisition stands to offer a strong growth opportunity, new revenue stream and further diversification for the Qantas Group. According to him, the Qantas Group has a very strong presence in Western Australia, operating passenger services across metropolitan and regional centers and connecting the state to its broader domestic and international networks.

  • Fairfax Media Ltd buys Australia and New Zealand focused tendering website TenderLink

    Fairfax Media Ltd reported Monday the purchase of the Australian and New Zealand-focused tendering website TenderLink. According to its release, Fairfax undertook the investment for an estimated $NZ21.6 million ($A16.43 million).

    The diversified media house says TenderLink is the southern hemisphere's largest tender notification provider, with 99 per cent of all publicly advertised tenders from government and the public and private sectors passing through its systems.