Friday, 22 June 2018 Sydney

Invest In Australia News::

  • Fletcher Building Limited says it has secured a 92.7 percent relevant interest in Crane Group Limited

    New Zealand based construction major Fletcher Building Limited announced Wednesday that it has secured a 92.7 per cent relevant interest in Australia’s Crane Group Limited. Subsequently, Fletcher Building will therefore not extend its takeover offer for Crane. The offer closes on 31 March 2011. After the close, Fletcher Building will proceed with the compulsory acquisition of Crane.

    Fletcher Building Chief Executive Officer Jonathan Ling said the move is a significant milestone for the firm, having crossed the 90 per cent acceptances level in the firm’s offer for Crane Group. Ling said the investment marks a considerable milestone, as Fletcher will now move to compulsorily acquire the remaining shares.

  • Cephalon Inc acquires Australia’s ChemGenex Pharmaceuticals Limited

    In a joint announcement, Cephalon Inc. and ChemGenex Pharmaceuticals Limited said Cephalon's wholly-owned subsidiary, Cephalon CXS Holdings Pty Ltd, is to acquire ChemGenex. ChemGenex is a hematology-focused Australian biopharmaceutical company developing its lead product candidate, OMAPRO(TM), for the treatment of chronic myeloid leukemia (CML) patients.

    Kevin Buchi, Chief Executive Officer of Cephalon, said the proposed transaction allows ChemGenex shareholders to realize cash proceeds at a significant premium to recent trading levels and adds an interesting late-stage opportunity to the firm’s portfolio.

  • Tripoint Corp acquires Melbourne based business consulting group Platinum Insight

    Tripoint Corporation, a privately owned business and systems integration consulting company, has acquired Platinum Insight, a Melbourne based business consulting group that specializes in helping financial services organizations implement large-scale strategic business transformation and modernization initiatives.

    Tripoint expects the acquisition of Platinum Insight to bolster its growth strategy and help the corporation accelerate its presence in the financial services sector. It will also provide the scale and support framework to offer customers a broader range of solutions in business and systems integration consulting and application support, stated Tripoint.

  • BHP Billiton to invest upwards of $13 billion in expanding its output of coal and iron ore

    Mining major BHP Billiton is to invest upwards of $13 billion in expanding its output of iron ore and coal, reported the wall street journal. The two minerals are key materials in the expansion of emerging Asian economies. There has been an increasing demand for iron ore and coal from emerging economies such as China and India.

    The investment sum is targeted at mines, rail links and ports in Australia. Currently, Australia is a key exporter of strategic raw materials for the energy and steel needs of countries such as China and India, said the Dow Jones. BHP Billiton's share of the investment will be about $9 billion, the Melbourne-based mining giant said in a statement last week.

  • India based Komli Media acquires Australia’s leading premium website representation firm PostClick

    Komli Media, India’s largest and most successful digital media network platform, announced that it has acquired PostClick.  PostClick is Australia’s leading premium website representation firm. The investment turns Komli into the leading digital media network platform across Asia Pacific.  With the acquisition, Komli now reaches over 30 million unique audiences across the region.

  • US based Quamtel Inc to acquire Australia’s SavvyTel Communications

    US based Quamtel Inc has signed a letter of intent to acquire Australia’s SavvyTel Communications Pty Ltd. The definitive agreement is expected to be signed in April 2011.
    Under the purchase agreement, QuamTel Inc. will acquire 100% of the stock of SavvyTel Communications Inc. in exchange for the issuance of 5.5 million common shares of QuamTel, Inc.

    Post the acquisition, SavvyTel will be a wholly owned subsidiary of QuamTel Inc. Commenting on the acquisition, QuamTel CEO, Stuart Ehrlich, said the combined strengths of the two companies will provide them with strategic reach internationally. Ehrlich stated that the acquisition provides QuamTel with a large subscriber base to market other synergistic QuamTel products.

  • JSC Atomredmetzoloto in fresh bid to acquire Australia’s uranium miner Mantra Resources

    Russia’s JSC Atomredmetzoloto (ARMZ) has made a fresh bid for the acquisition of Australia’s uranium miner, Mantra Resources. The fresh bid comes after the Russian firm withdrew its earlier takeover offer for Mantra Resources. ARMZ’s new offer values Mantra Resources at approximately $1.03 billion, an amount that is lower that the firm’s previous valuation of $1.17 billion.

  • Minor International in cash takeover offer of Australia’s Oaks Hotels & Resorts Limited

    Minor International has announced a cash takeover offer for all shares in the Australia-based Oaks Hotels & Resorts Limited. The acquisition will see Minor International offer Oaks shareholders 35 cents (AUD) for every Oaks share held. The offer values Oaks’ equity at around AU$61 million, equivalent to a total enterprise value of approximately AU$129 million.

  • Strategic Airlines picks up a Brisbane Engineering maintenance facility and corporate HQs

    Strategic Airlines, Australia’s newest domestic and international airline leased major new premises in Brisbane including an engineering hangar facility at Brisbane International Airport and a new Corporate Headquarters, announced the firm Tuesday.

    Strategic Airlines Managing Director Michael James, commented that pending the granting by the Civil Aviation Safety Authority of Strategic’s engineering license, the firm is planning to use the original Boeing hangar facility to undertake engineering maintenance on the A320 fleet.

  • Infigen Energy completes transaction with renewable energy project developer over certain wind farm development projects

    Infigen Energy has completed a transaction with renewable energy project developer National Power Partners (NPP) in relation to the ownership of certain wind farm development projects in its Australian wind energy development pipeline.

    Under the terms of the transaction, Infigen has acquired the remaining 50% interest in a number of development projects that it did not already own. The development projects include the 120 MW Flyers Creek and 70-100 MW Bodangora in New South Wales, the 35-50 MW Cherry Tree project in Victoria and the 450-550 MW Woakwine project in South Australia.

  • Utah Medical Products acquires Femcare Holdings Limited UK, inclusive of Ozzie subsidiary Femcare Australia

    Utah Medical Products (UTMD), Inc. has acquired Femcare Holdings Limited of the United Kingdom, including its trading subsidiaries, Femcare-Nikomed Ltd of Southampton, England and Femcare Australia. Femcare is best known for its leading global brand the Filshie Clip System – a female surgical contraception device (tubal ligation) which is placed on the fallopian tubes.

    Filshie Clip is now available in around 45 countries. About 80% of Femcare’s current $16 million in total revenues are related to the Filshie Clip System. Filshie Clip is sold directly by Femcare to clinicians in the U.K. and Australia, and through specialty distributors in other countries.

  • Fox Studios Australia mulling purchase of Panalux’s entire Australian lighting equipment inventory

    Fox Studios Australia is mulling the purchase of Panalux’s entire Australian lighting equipment inventory, announced the firm Thursday. The acquisition target, Panalux is a subsidiary of Panavision. The lighting equipment inventory is based in Australia’s New South Wales and Queensland states. Panalux provides lighting equipment to a large number of local and international blockbusters shot at Fox and across the region.

  • Rox Resources Limited to proceed with acquisition of the Mt Fisher gold-nickel project in Western Australia

    In an announcement on the Australian Stock Exchange, Rox Resources Limited said it has completed its due diligence studies and will proceed with its acquisition of the Mt Fisher gold-nickel project from Avoca Resources Limited. Avoca Resources is now a wholly owned subsidiary of the listed entity Alacer Gold Corp.

    Rox announced last month that it had reached an agreement with Avoca to purchase the highly prospective Mt Fisher gold-nickel project subject to a 30 day due diligence period. According to its statement, Rox had independent external consultants review the technical and legal aspects of the project over the review period. On the basis of these reviews, the firm chose to proceed with the purchase of the project, it said.

  • Origin Energy Ltd to raise A$2.3 billion via share sell to cut debt after New South Wales acquisition

    Australia’s biggest energy retailer, Origin Energy Ltd, is planning to raise A$2.3 billion via share sell, reported Bloomberg. The raising is aimed at cutting down the firm’s debt after its acquisition of power assets from the New South Wales state government.

    In a filing to the Australian Stock Exchange, Origin said it will offer about 177 million shares at A$13 each to fund the New South Wales investment that increased its customers by more than 50 per cent to 4.6 million. However, according to Bloomberg, the share sale price is 17 per cent less than Origin’s Wednesday closing price of A$15.66.

  • Lend Lease completes acquisition of Valemus Australia from Bilfinger Berger SE

    Lend Lease announced it has completed the acquisition of Valemus Australia (Valemus), the parent company of Abigroup, Baulderstone and Conneq from Bilfinger Berger SE. Lend Lease expects the Valemus acquisition to create considerable earnings in the future, given its 2010 December order book that was pegged at A$5.3 billion.

    With the acquisition complete, the Valemus name will be retired immediately with Abigroup, Baulderstone and Conneq continuing to operate as separate business units, as part of Lend Lease’s infrastructure business. Peter Brecht, formerly Chief Executive Officer of Valemus, has been appointed Managing Director, Infrastructure, reporting to Scott Charlton, Lend Lease Group Director of Operations.

  • Countplus through its subsidiary acquires Perth based legal business SuperGeneration

    Countplus has acquired Perth based legal business SuperGeneration. The firm announced that its Western Australian legal subsidiary, McDonald Pynt Lawyers (MPL) acquired the Perth based legal business, SuperGeneration. SuperGeneration was founded and is managed by Chris Hogan, a specialist in Superannuation law and a former partner of national legal firm, Mallesons Stephen Jaques.

  • Australian Competition and Consumer Commission rejects Asahi Breweries’ offer for Australia’s P&N Beverages

    Australia’s competition watchdog the Australian Competition and Consumer Commission (ACCC) announced it will oppose the proposed acquisition of P&N Beverages Australia Pty Ltd by Asahi Holdings (Australia) Pty Ltd. ACCC chairman Graeme Samuel said the watchdog was concerned that the proposed acquisition will remove a vigorous and effective competitor in the markets for the supply of carbonated soft drinks (CSDs) and cordial.  

    Asahi owns Schweppes Australia Pty Ltd, the second largest manufacturer of CSDs in Australia and the largest manufacturer of cordial. Its products include the Schweppes and Pepsi range of CSDs, as well as the Cottee's range of cordial.

  • Metcash Trading Limited inks agreement deal to acquire Scanning Systems Australia

    Metcash Trading Limited announced it had reached an agreement for the acquisition of SSA Holding Pty Ltd, trading as Scanning Systems Australia or SSA. Metcash Trading is an Australian national grocery, liquor and hardware marketer and wholesaler. SSA provides advanced point of sale systems to independent retailers in the grocery, liquor, hardware, fuel and convenience sectors.

    Mr. David Hagen, SSA Managing Director commented that he was confident Metcash will continue building on the strengths of the Profit Track product suite and provide market leading solutions to independent retailers.

  • Sotheby's International Realty Affiliates acquires rights to license Sotheby's International Realty(R) brand in Australia

    Sotheby's International Realty Affiliates LLC (SIRA) has acquired the rights from the Sotheby's auction house to license the Sotheby's International Realty(R) brand in Australia. The financial terms of the transaction were however not disclosed.

    Commenting on the acquisition, Michael R. Good, chief executive officer, Sotheby's International Realty Affiliates LLC, said the investment gives the firm representation in the Australian market, terming it a ‘critical international market.’ With the licensing rights for Australia acquired, the firm will focus on aggressively pursuing the finest local candidates to represent its business in the country, he said.

  • MTQ Corporation acquires 15% stake in Australia’s Neptune Marine Services Limited

    MTQ Corporation Limited (MTQ), through its wholly owned subsidiary, Blossomvale Investments Pte. Ltd, Wednesday acquired 200 million new ordinary shares in Neptune Marine Services Limited, representing about 15% stake.

    Neptune provides offshore engineering solutions to the global oil and gas, marine and renewable energy industries. Headquartered in Perth, Western Australia, Neptune has a comprehensive focus on subsea services with operations spanning Australia and the United Kingdom.

  • Fairfax Media acquires online accommodation booking company Occupancy for AU$29.1 million

    Australia’s leading diversified media firm, Fairfax Media, has acquired an online accommodation booking company for an estimated AU$29.1 million. Fairfax acquired Occupancy, which operates 2 websites that list holiday rental properties – and

    The deal will see Fairfax Media pay AU$11.2 million in shares and AU$17.9 million in cash. Existing shareholders will keep about 10% of the combined shares and Fairfax will hold 90%. The move is line with Fairfax’s strategy to get into the online holiday rental and corporate rental business, which saw the company take control of in 2005. They also control and

  • India’s Lanco Infratech to acquire Australia’s Griffin Coal for A$730 million

    The Economic Times (ET) reported Friday India’s foremost infrastructure firm, Lanco Infratech is to acquire Australia’s Griffin Coal. According to the ET report, the investment is for a consideration of A$730 million, about Rs 3,400 crore. Lanco’s move comes amidst previous similar moves by Indian firms keen on securing resource supplies for their Indian units.

    According to the ET, it is the second biggest investment by an Indian company in Australia, after Adani Enterprises acquired Linc in August 2010 for $2.7 billion. Speaking to ET, Lanco’s chief financial officer, Suresh Kumar, said the acquisition of Griffin Coal will cater for about 30 per cent of Lanco’s overall coal needs to the year 2015.

  • 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.