Friday, 24 November 2017 Sydney
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Invest In Australia News::

  • 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 www.quotify.com.au, 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, Bloodstock.com.au. Launched in 2009, Bloodstock.com.au 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 Bloodstock.com.au is popular with buyers from all over the world.

  • India’s National Mineral Development Corporation (NMDC) to acquire two iron ore mines in Australia

    India’s National Mineral Development Corporation (NMDC) is likely to acquire two iron ore mines in Australia with a controlling stake before the end of the current fiscal year. NMDC Chairman and Managing Director, Rana Som announced the plans Friday during the Global Compact National Convention.

    According to Som, NMDC is to acquire three coal and three iron ore assets in Australia, Mozambique and Albania. Out of the three, two iron ore assets being acquired are already at exploration stage. Som noted that NMDC is currently leveraging its ability to explore in these areas and at this stage investment is not big.

  • Tega Industries Limited picks up Australia’s mining consumable marketing and distribution company Losugen

    Tega Industries Limited has acquired Australia’s mining consumable marketing and distribution company, Losugen Pty Limited. Tega expects the deal to bolster its marketing and sales operations in Australia. Tega was advised on the deal by Avendus Capital.

    Losugen, which specializes in the design and sale of wear components primarily for the mining industry, has well established brands for customized rubber panels, chute liners, trommel panels, conveyor components, etc. and caters to customers in South Australia, West Australia, Victoria, NSW, Tasmania, etc.

  • HP Enterprise Services to set up an $119 million data centre in west of Sydney, Australia

    Hewlett-Packard is to set up a data centre in the West of Sydney, Australia, at a cost of $119 million. The project will be completed by the end of this year. Commenting on the investment, Australian Minister for Broadband, Communications and the Digital Economy, Senator Stephen Conroy, welcomed HP’s investment in the Next Generation Data Centre in Eastern Creek, Western Sydney.

     

  • M2 Telecommunications to acquire industry rival Clear Telecoms

    Australia's largest network independent telecommunications provider for retail and wholesale fixed-line, mobile and data telecommunications services to businesses, M2 Telecommunications, Wednesday announced it is to acquire its industry rival Clear Telecoms. The deal is a 100% acquisition of all the business assets of Clear Telecoms, said M2.

    Further to that, Clear Telecoms will transfer all its assets, including over 20,000 customer contracts, operating systems, brands and other related intellectual property to M2. Clear generates an estimated $70 million in annual revenues.

  • New Zealand’s largest publicly listed firm Fletcher Building finally managed to convince the Crane Board of Directors

    After days of fervent negotiations, New Zealand’s largest publicly listed firm Fletcher Building finally managed to convince the Crane Board of Directors to accept its sweetened offer for the Australian firm. According to Fletcher chief executive Jonathan Ling, the kiwi firm is set to earn more of its income across the Tasman than at home after winning key support for its bid for the rival Crane Group.

  • International Coal Ventures Ltd (ICVL) stops counter bid to Rio’s offer for Riversdale, terming its valuation as high

    The Indian state owned companies’ joint venture firm has stopped its counter bid to Rio Tinto’s offer for Riversdale Mining, arguing the valuation is too high. International Coal Ventures Ltd (ICVL), set up by SAIL, CIL, NMDC, RINL and NTPC to acquire overseas assets, did not place a counter bid against Rio Tinto’s A$3.9 billion bid for Riversdale Mining, with its board deciding the valuation was too high.

    Reports have indicated that the ICVL board stopped the process after concluding that the asset was not worth purchasing, due to its high valuation. According to sources, the board determined that there was no sense in placing a counter bid for Rio’s A$3.9 billion, as it gives Riversdale Mining a high valuation.

  • Australian Renewable Fuels Limited acquires Biodiesel Producers Limited

    Australian Renewable Fuels Ltd acquired Biodiesel Producers Ltd (BPL) as it seeks to reinforce its offering and global position in the biodiesel space. According to the firm, the investment was a strategic push for expansion, aimed at making it dominant in the Australian biodiesel market, as well as the global biodiesel industry.  

    Under the terms of the strategic acquisition, Australian Renewable Fuels will acquire BPL’s biodiesel processing facility in Barnawartha, Victoria, which yields 60 million liters of biodiesel per year from sources like animal tallow and waste cooking oil. The move is expected to increase Australian Renewable Fuels’ biodiesel capacity to 150 million liters per year.

  • Alberta Investment Management Corp & Australia New Zealand Forest Fund (ANZFF) acquire timberland assets of Great Southern Plantations

    Alberta Investment Management Corporation (AIMCo) has partnered with Australia New Zealand Forest Fund (ANZFF) to acquire the timberland assets of Great Southern Plantations (GSP) for a total purchase price of AU$415 million.

    Under the terms of the investment, the GSP assets are to be acquired out of receivership and represent a diversified rural land portfolio encompassing over 2,500 square kilometers in prime forestry and agricultural regions across six Australian states. According to Alberta Investment, this transaction represents the largest private forestry estate transaction in Australia.

  • CUNA Mutual Group to sell its Australian business operations to QBE Insurance

    CUNA Mutual Group Wednesday announced it has reached an agreement to sell its Australian business operations to QBE Insurance Group. The investment is part of a strategic review process, with the firm noting that its Australian venture is better placed to serve its clients and for future growth under a different ownership structure.

    The investment is expected to bolster the firm’s position and revitalize its operations in the country. Faye Patzner, Senior Vice President, CUNA Mutual’s head of International operations and the company’s chief legal officer noted that the decision to sell the firm’s Australian operations aligns with the best interests of its policyholders and the Australian credit unions and cooperatives CUNA serves.

  • Cartoon Network acquires package of 10 new children’s short-form series from Australian Children’s Television Foundation

    Cartoon Network Tuesday acquired a package of 10 new children’s short-form series from Australian Children’s Television Foundation (ACTF). The move is in a bid to continue Cartoon Network’s support of local Australian original content, said the firm.

    Under the terms of the acquisition, the comedic animated and live-action shorts will be aired on Cartoon Network in Australia, New Zealand and Asia; and include Dukes of Broxstonia, Monster Chef, Black Knight White Witch, Desdemona, Horace in Slow Motion, Itty Bitty Ditties, My Strange Pet, Casa de Evil and Laser Beak Man.

    The 98 episodes are a collaborative effort between ACTF and Australian producers from Western Australia, South Australia, Victoria, New South Wales and Tasmania.

  • US based renewable energy firm WaterFurnace acquires fixed assets & technology of Australia’s Hyper Engineering

    US based renewable energy firm, WaterFurnace Renewable Energy Inc, Tuesday acquired the fixed assets and technology of Hyper Engineering Pty located in New South Wales, Australia. The acquisition follows an agreement between WaterFurnace, Hyper Engineering, Eco Engineering Pty and John Thomas Reay, for an aggregate purchase price of US$2.78 million.  

    Hyper Engineering designs and builds devices that limit the inrush current that electric motors draw upon start up. Its technology reduces inrush current and extends the life of electric motors. Its technology as well enhances the quality of local electric power.

  • International Coal Ventures (ICVL), a consortium formed by SAIL, Coal India, NMDC, RINL and NTPC, to bid for Australia’s Riversdale Mining

    International Coal Ventures (ICVL) is likely to bid for Australia’s Riversdale Mining, said reports. International Coal Ventures is a joint venture firm between five public sector units; an Indian consortium comprising of five states run companies. The consortium is keen on the acquisition of the Australian miner.

    Rio Tinto, another Australian mining major, had already made an offer for a 14.9 per cent stake in Riversdale Mining, pegged at a price of $16 per share. Rio Tinto’s offer sums up to a consideration of $3.9 billion.

  • China's Hanlong Mining Investment Pty Ltd aggressively hunting for acquisitions in Australia

    Hanlong Group is looking for acquisition and wants to acquire stakes in Australian companies to secure off take in key steel-making ingredients. Hanlong was planning to invest more than $5 billion and had already received significant support from banks for its expansion plans. Hanlong is expected to look at West Australia’s iron ore juniors and also make acquisitions in agriculture and renewable energy.

    In a bid to become a major iron ore producer, Hanlong Mining Investment Pty Ltd is reportedly aggressively hunting for acquisitions in Australia. The move is in line with the Chinese miner’s strategy, seeking to bolster its iron ore operations and its global position. Hanlong already has a 56.8 per cent stake in Perth-based Moly Mines Ltd.

  • Yahoo! 7 announces acquisition of leading Australian online Group Buying site, Spreets Pty Ltd

    Online media company Yahoo!7 Thursday announced the acquisition of leading Australian online Group Buying site, Spreets Pty Ltd, including its New Zealand operations.

    Spreets (spreets.com.au and spreets.co.nz) was the first Group Buying site in ANZ having been in operation for almost a year with 500,000 members and more than 274,000 vouchers purchased since inception.

    The Yahoo!7 business delivers a new audience to the Spreets site through distribution on the Yahoo!7 Network as well as access to the benefits provided in Australia and New Zealand through its joint venture partners Yahoo! Inc. and the Seven Media Group, including marketing and promotions, said the firm.

  • Bengal Energy Ltd in offering to secure financing for its ongoing capital expenditure programs in Australia and India

    Bengal Energy Ltd announced it has filed a preliminary short form prospectus with respect to its previously announced $7.9 million financing.  The Offering is being conducted on a "bought deal" basis through a syndicate of underwriters led by Mackie Research Capital Corporation and including Wellington West Capital Markets Inc. and Toll Cross Securities Inc, said Bengal.

    The net proceeds from the Offering will be used to fund the Company's ongoing capital expenditure programs in Australia and India and for general working capital purposes. Bengal Energy currently runs operations in Australia’s Cooper Basin.

  • New Zealand Health IT firm Emendo Ltd in Australia investment, sets up fresh clinical team

    New Zealand Health IT Company, Emendo Ltd, announced it had established a new five-person Clinical team to help hospitals meet increasingly challenging operational targets and achieve better patient outcomes. Called CapPlan, the newly formed Emendo Clinical team will be based in and support hospitals in Australia/New Zealand, United Kingdom, Canada and the United States.

  • Medical diagnostics company SONIC Healthcare embarks on an acquisition trail

    In what comes as a sign of an aggressive growth strategy, Australia’s largest provider of pathology services has embarked on acquisition trail. SONIC Healthcare invested $54m for KBL-BML-Unilabo and Woestyn Laboratory in Belgium and made its first foray into the Californian market, paying $30m for Physicians Automated Laboratory.

    According to the firm’s managing director, Colin Goldschmidt, the acquisitions are part of the company's growth strategy in Europe and the US. Colin reiterated that Sonic will be undertaking additional investments. Europe and the US market are fragmented markets and provide attractive acquisition opportunities for Sonic, he said.

  • Sheffield Resources acquires the McCalls Heavy Mineral Sands (HMS) project in North Perth Basin Mineral sands province

    Sheffield Resources announced it has acquired the McCalls Heavy Mineral Sands (HMS) project, located in the world class North Perth Basin mineral sands province. Sheffield Resources is a Bulk minerals explorer. This transaction further expands the Sheffield HMS portfolio, following the recent acquisition of four advanced HMS tenements from Iluka Resources Ltd, said the firm.

    Sheffield is now the unencumbered holder of exploration license application ELA70/3929 over the McCalls project, which together with Sheffield’s adjacent tenements E70/3967 and ELA70/3931, forms a contiguous tenement area of 471km2.

  • South Africa’s leading pharmaceutical company to acquire Australia’s Sigma Pharmaceuticals Ltd

    Aspen (APN), South Africa’s leading pharmaceutical company, announced it is to acquire Australia’s Sigma Pharmaceuticals Limited.  Aspen said that all conditions precedent have been met for it to acquire the pharmaceutical business of Australian-based Sigma Pharmaceuticals Limited.

    According to its announcement, the acquisition was approved following the extraordinary meeting of Sigma shareholders held on 14 January 2011. The effective date of change of ownership is 31 January 2011 and will position Aspen as the leading pharmaceutical company in Australia by volume of scripts generated.