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Invest In Australia News::

  • BHP Billiton increases its stake in a Western Australian offshore exploration block

    BHP Billiton has increased its stake in a Western Australian offshore exploration block, pre-empting an earlier plan by Japan Australia LNG (MiMi).

    Tap Oil Limited had earlier announced on 4 May 2011 that it had agreed to sell its 25% interest in WA-351-P, offshore Carnarvon Basin, Western Australia, to Japan Australia LNG (MIMI) Pty Ltd for a cash consideration of US$30,154,000. In addition, MIMI were to pay Tap’s 20% share of the next exploration well in the permit up to a cap of US$10 million.

  • Canada Pension Plan Investment Board acquires 50% of JV interest in Melbourne based Northland Shopping Centre

    The Canada Pension Plan Investment Board (CPPIB) announced Tuesday that it has acquired a 50% joint venture interest in Northland Shopping Centre (Northland) for a total equity commitment of A$455 million.

    Northland is a 92,380-square-metre (994,370-square-foot) super-regional shopping centre located in Melbourne, Victoria, Australia. The 50% interest in Northland is being acquired from the Gandel Group.

    Colonial First State Retail Property Trust (CFX), the largest Real Estate Investment Trust of fund manager of Colonial First State Global Asset Management (CFSGAM), holds the other 50% interest in Northland. CFSGAM will continue to manage the property.

  • GMR Infrastructure keen on acquiring Australia’s Bandanna Energy's coal mines

    The Economic Times of India (ET) Tuesday reported that India’s GMR Infrastructure has joined the race to acquire Australia-based Bandanna Energy's coal mines. According to ET, a senior company official said the Indian firm is keen on acquiring the coal assets of the Australian firm as it seeks to reinforce its position.

    ET quoted the official reiterating that GMR Infrastructure has been shortlisted for the second round of bidding and would soon start due diligence. The Bangalore-based company will compete with the Aditya Birla Group's Essel Mining and JSW steel along with four Korean and Chinese companies, said the ET report.

  • London based Millhouse Inc. acquires Australia’s the Alliance Capital Group

    London based Millhouse Inc. Plc has acquired Australia based Alliance Capital Group. Alliance Capital services business and consumer finance markets to customers that are having difficulty with mainstream bank financing. These include customers seeking residential mortgages, construction finance, car finance and business asset finance.

    A spokesman for Alliance said that the mainstream financiers, especially since the advent of the new Australian credit laws, are making it very difficult to access funds. People who would have been able to raise capital for basic needs are now not able to do so.

  • Perth’s Blakiston & Crabb joins Gilbert + Tobin as one firm

    Perth based Blakiston & Crabb and Gilbert + Tobin have merged their operations.  Blakiston & Crabb is one of Perth’s leading law firms specializing in the Energy and Resources sector. Gilbert +Tobin Managing Partner Danny Gilbert welcomed the Blakiston & Crabb team saying it is a significant move that would benefit both firms.

    According to Gilbert, Blakiston & Crabb bring with them specialized partners in the Energy and Resources sector, one of the main drivers of Australia’s economic prosperity. The law firm is one of Western Australia’s leading firms which have been at the centre of that State’s resources boom for more than 25 years, he said.

  • Mcjunkin Red Man Corp. to acquire Stainless Pipe and Fittings Australia Pty. Ltd.

    McJunkin Red Man Corporation (MRC) announced it is to acquire Stainless Pipe and Fittings Australia Pty Ltd (SPF), as part of its strategic vision to be the world’s premier pipe, valve and fitting (PVF) distribution company to the energy and industrial markets.

    Post the acquisition, SPF will operate as MRC SPF. The acquisition will enhance MRC’s global project capabilities. The transaction, which is expected to close by the end of June, is subject to customary closing conditions.

  • FOXTEL in bid to acquire AUSTAR at a price of $1.52 per share

    FOXTEL Thursday confirmed that it has put a conditional proposal to AUSTAR, which, if implemented, would result in FOXTEL acquiring 100% of the shares in AUSTAR and the merger of the FOXTEL and AUSTAR businesses. The proposal by FOXTEL to acquire AUSTAR is at a price of $1.52 per share.

    A successful transaction would bring together two of Australia’s major subscription TV service providers, creating one of Australia’s largest media businesses with over 2,500 full-time equivalent employees and anticipated revenues of over $2.8 billion with a combined investment in original Australian content of more than $500 million per annum.

  • NBC Universal International acquires majority stake in Matchbox Pictures

    Matchbox Pictures announced that NBC Universal International is to make a capital investment in the company, one of Australia’s most innovative independent production companies.

    The announcement was made by Michael Edelstein, President, NBC Universal International Television Production, in conjunction with Matchbox’s founders Tony Ayres, Helen Bowden, Penny Chapman, Michael McMahon, and Helen Panckhurst.

    NBC Universal International Television Production will invest in Matchbox Pictures and provide a global distribution network for their content outside of Australia and New Zealand. It is NBC Universal’s first investment in a production company outside of the UK and adds to its growing portfolio of international production assets.

  • RCR Tomlinson picks up AE&E, Australian subsidiary of A-Tec

    According to Yahoo News, Engineering Company RCR Tomlinson has picked up AE&E, the Australian subsidiary of failed Austrian company A-Tec, to give it a foothold in the power and steam generation project market. RCR did not disclose the value of the transaction but said it would be funded from existing cash holdings.

    The company said in a statement that with the acquisition of AE&E Australia, RCR now holds all the major steam cycle and boiler technologies and licenses necessary to deliver the majority of power and steam generation projects in Australia, said Yahoo.

  • Carbon Polymers Limited acquires assets and operations of Reclaim Industries

    Carbon Polymers Limited (CBP) has successfully acquired the assets and operations of Reclaim Industries Limited (RCM). The Board of Carbon Polymers expects that the synergies between the operations of Carbon Polymers and Reclaim will save $3-5 million in costs per annum as well as generate organic sales growth for both businesses. Until recently Reclaim was a tyre recycling company listed on the Australian Stock Exchange.

  • Bradken acquires Western Australia based Wear Protect Systems Pty Limited

    Bradken Limited Friday announced it has acquired Wear Protect Systems Pty Limited (WPS) and two of its related companies located in Wangara, Western Australia for an upfront payment of $13.3 million and an earn-out over two years.

    Bradken does not expect the investment to have a material impact on FY11 results, but expects that EBITDA after synergies of $6 million will be contributed in FY12. Wear Protect Systems is a manufacturer and supplier of ceramic wear liners and protective coating compounds to the Mining industry in Australia and overseas.

  • Orbital Corp. invests in the LPG aftermarket business of Sprint Gas (Aust) Pty Ltd

    International clean energy technology group Orbital Corporation Limited, announced Friday it has invested in the LPG aftermarket business of Sprint Gas (Aust) Pty Ltd. The investment will see Orbital acquire 55% of the shares of a newly formed company which will acquire the business assets of Sprint Gas including all brands, intellectual property, contracts and other tangible assets.

    The Sprint Gas business was founded in 1978 by the Boemo family who will continue to own 45% of the business as a co-investor with Orbital, with appropriate put and call options between the shareholders.

  • Certus Solutions acquires Australian IBM software and services company Focus Strategies and Solutions

    Certus Solutions has acquired Australian IBM software and services company, Focus Strategies and Solutions (Focus).

    Focus was founded eight years ago by Tom Reich, and its 50 staff work from offices in Sydney, Melbourne, Perth and Canberra. The company has over 125 customers in the corporate and government sectors and has been IBM's Business Partner of the Year for the last four years.
     
    Certus' CEO Brian Allen said the acquisition is a strategic move. Certus is the only specialist pure play IBM services company in Australasia. Certus’ strategy is to focus on assisting IBM customers to get the best business outcomes from their investment, said Allen.
     

  • Eni signs agreement with MEO Australia Limited to farm-in to the Heron and Blackwood gas discoveries

    Eni has signed an agreement with MEO Australia Limited to farm-in to the Heron and Blackwood gas discoveries in the permit NT/P68 in the Timor Sea, northern Australia.

    The agreement involves Eni earning 50% in the Heron gas discovery by funding the drilling of two wells in the Heron Area. Eni may withdraw from the agreement after the first well has been drilled.

    Eni has a further option to earn 50% in the Blackwood gas discovery by acquiring a minimum of 500 square km of 3D seismic and drilling one well in the Blackwood area.

  • Archer Capital acquires a controlling stake in V8 Supercars

    V8 Supercars Monday announced a new ownership structure and a significant capital investment aimed at supporting the continued development of one of Australia’s fastest-growing sports.
     
    The 18 V8 Supercars racing teams and founding investor, Sports Entertainment Ltd (SEL), have entered into a sale agreement with Australian Motor Racing Partners Pty Limited (AMRP).

    AMRP has strong financial backing to ensure that V8 Supercars remains financially robust and to underpin the sport’s continued growth.

  • Gloucester Coal to acquire unlisted Donaldson Coal Pty Ltd from Noble Group for A$585 million

    Gloucester Coal Ltd Monday announced that it has entered into an agreement with Noble, Gloucester’s largest shareholder, to acquire, subject to shareholder approval, Noble’s 100% interest in Donaldson Coal Holdings Limited.

    Donaldson owns (through interposed entities) one open cut and two underground mines producing thermal coal and semi-soft coking coal products, located approximately 25 kilometers west of Newcastle, New South Wales. It also has an 11.6% founding shareholding in NCIG Holdings Pty Limited, a new coal export terminal at the Port of Newcastle giving it access to critical port capacity to facilitate growth.

  • Scholle Packaging announces acquisition of ZORK

    Scholle Packaging, the Pioneer of Bag-In-Box™, announced Friday the acquisition of ZORK, pioneering developer of ‘peel and reseal’ closures for wine and spirits.

    Scholle Packaging is the global leader in providing the wine, beer and spirits industry, with innovative films and closures, e.g. FlexTap™, for flexible packaging. The ZORK acquisition falls in line with Scholle’s current performance polymer technologies and now allows further expansion of their precision closure offering for both rigid and flexible container applications in the wine and spirits market.

  • 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.