Friday, 19 April 2019 Sydney

Invest In Australia News::

  • Australian manufacturer of medical products CSL Ltd mulling minor acquisitions, reports

    Australian firm CSL ltd announced Wednesday that it is mulling acquisitions, with a focus on small deals as opposed to large or transformational deals. CSL Ltd is the biggest blood products manufacturer world wide and its chief executive reiterated that the firm is on the look out for small acquisitions geared at bolstering its business. Earlier on, CSL had announced that it will purchasing back its shares worth A$900 million.

  • Goodman Group proposes strategic acquisition of the Moorabbin airport and business park

    Goodman Group is keen on a strategic acquisition of the Moorabbin Airport and Business Park, reported its Chairman Tuesday. In its proposed offer, the firm reported that it plans to close the acquisition with about $201.5 million, to be remitted by Goodman Holdings. As such, the proposed deal is expected to see Goodman acquire the property via the purchase of the holding entities of Moorabbin Airport Corporation Pty Ltd.

    Good Group expects the acquisition of Moorabbin property to enable it manage and take advantage of the array of prospects in the region. According to Goodman Group Chairman, the acquisition will offer the company the chance to put to use its fully integrated business model thus be able to optimise value.

  • Canadian Firm Agrium now targets AWB, outdoing an earlier offer from Graincorp

    In a bid to undermine an already underway deal between Graincorp and AWB, Canadian firm, Agrium, has launched an offer for AWB pegged at about $1.1 billion. Agrium is a Canadian fertiliser manufacturer and its bid threatens to kill the rival bid offered by GrainCorp, a domestic Australian firm.

    GrainCorp had earlier reiterated that its move was targeted at expanding its business in its Asian retail operations. AWB is Australia’s biggest wheat exporter and its takeover has generated a clash that reflects the most recent consolidation move in Australia’s grain handling industry. Overseas firms are fighting for a bigger chunk of the country’s market, considered the fourth biggest wheat exporter in the world.

  • US based firm Avnet Inc. on agreement for the acquisition of all outstanding shares of Australian company itX Group Ltd

    American, Phoenix based company, Avnet Inc, Friday announced that it had reached a definitive agreement with Australian firm, itX group Ltd, for the acquisition of itX Group’s all outstanding shares. itX Group Ltd is an Australian value added distributor of software, hardware and services.

    The deal will see the American firm pay A$77.5 million in an all cash agreement and the merger will be undertaken via a scheme of arrangement under Australian law. Even so, the acquisition is still subject to the approval of the Australian firm’s shareholders and other mandatory approvals under Australian investment laws.

  • AGL and New Zealand firm Meridian Energy to set up $1 billion Renewable energy plant in Victoria

    AGL Energy Thursday said it had reached an agreement with New Zealand firm, Meridian Energy for the construction of a wind farm in Victoria State. The cooperation will see the New Zealand renewable energy firm, Meridian, and AGL set up a wind farm at an estimated $1 billion worth of investment. The wind farm will subsequently become the biggest such renewable energy project of its kind in the south west of Victoria.

  • Australia’s biggest telecoms operator Telstra agrees on a deal with a consortium of firms for the sale of its Chinese business SouFun

    In a bid to prevent further losses, Australia’s biggest telecoms operator, Telstra, Friday reported that it is mulling a possible sale of its Chinese business unit, SouFun, if its planned initial public offering fails. The Australian telecoms giant recently announced its results, posting slumping profits and record low share price.

    To cushion itself from losses, Telstra said it had agreed with a consortium of companies on a back up deal that will see it sell SouFun for about $190 million profit. SouFun, an online property site, is Telstra’s main business in China. Telstra’s latest move comes amidst slumping share prices, peaking at $2.82 as at Friday, and the lowest of all time. Telstra’s shares have declined by about 13%.

  • Software provider, TechnologyOne wins Epworth HealthCare contract for enterprise suit installation

    TechnologyOne Thursday said it had successfully won the Epworth bid for the installation of the company’s software solutions enterprise suite. TechnologyOne’s enterprise suite for Epworth comprises financials, supply chain, business intelligence, work and assets, enterprise budgeting and customer relationship management. Epworth HealthCare is Victoria State’s biggest non-profit private hospital group and the deal will see TechnologyOne install the suite across all of the hospital’s operations.

  • Thailand’s biggest coal mining company Banpu PCL shareholders thumbs up for A$2.17 billion investment into Australian miner Centennial Coal Company

    Banpu PCL, Thailand’s biggest coal mining company, reported Wednesday that its shareholders had approved its offer for Australian miner, Centennial Coal Company. Banpu PCL now has the go ahead to undertake its Australian investment pegged at A$2.17 billion. The Thai company has always reiterated its intention for expansion offshore and the shareholder approval confirms its drive for regional growth.

  • Australian Competition and Consumer Commission (ACCC) has commenced market consultations over National Australia Bank’s AXA Asia Pacific Holdings bid

    In a move to expedite the conclusion of the National Australia Bank’s offer for Axa Asia Pacific, the Australian Competition and Consumer Commission (ACCC) said it has commenced market consultations regarding the deal. The Australia National Bank had offered $13.3 billion for the acquisition of AXA Asia Pacific Holdings Ltd’s Australian and New Zealand businesses.

  • US based companies First Reserve and Alpha Natural Resources mull $2.75 billion buyout of Australian mining firm Whitehaven Coal

    Reports emerged Monday that two US based companies are mulling a possible $2.75 billion worth investment in the takeover of the Australian mining firm, Whitehaven Natural Resources. The two firms, First Reserve and Alpha Natural Resources, are said to be currently considering the buyout firm, coming after confirmations from the Australian miner that it had an open data room for prospective suitors for quite some time.

  • American grain handler firm Gavilon LLC to open new office in Australia

    In a move aimed at bolstering its operations in Australia, American grain handler, Gavilon Group, said Friday that it plans to open a commodities trading office in the country. The new commodities trading office will add to its current Australian operation based in Brisbane. The establishment of the new office operations comes in the wake of the company’s failure over joint venture talks with domestic Australian grain handler, AWB, that instead decided to undertake an A$856 million merger with GrainCorp.  

  • American company Pavilion Energy Resources keen on Renewable Energy Investments in Australia

    US based company, Pavilion Energy Resources Inc., Thursday said it is keen on expanding its operations in Australia, as part of its move to expand its presence globally. Pavilion said it will be going into partnerships with various governments globally as it expands its business in cheap renewable energy technology. In that regard, the firm said it will seek funding from the recently announced fund by the Australian government targeting renewable energy investments.

  • India’s largest electricity generator NTPC undertakes study for Australian Mine investments

    Reports emerged Thursday that NTPC, India’s largest electricity generator, is scouring Australia for potential acquisitions in the mining industry. Sources close to the company revealed that NTPC had already hired some banks to help it in the prospective Australian investments. The company is reportedly seeking coalmines in Australia, in a move to bolster its supplies for its fuel stations.

  • Aussie investor Harold Mitchell to remain at the helm despite the recent merger with the UK buyout firm, Aegis

    The Australian, Wednesday reported that Aussie investor, Harold Mitchell, will retain his position in Mitchell Communications Group in spite of the recent merger with Aegis Group, the international media buy out firm that acquired the Australian group recently. Harold Mitchell owns about 30% of Mitchell Communications, whereas additional family interests hold about 10% in the company.

  • Australian Mining firm Linc Energy agrees to sell Galilee coal tenement to Indian company Adani Enterprises

    Australian Mining firm, Linc Energy Tuesday announced that it had reached an agreement with Adani Enterprises for the sell of its Galilee coal tenement to the Indian company. The Australian miner said the deal agreed on would see the Indian firm, Adani Enterprises remit in cash and royalty the value of the investment that was placed at a $2.7 billion. This makes the Linc Energy-Adani Enterprises deal the biggest single mine investment in Australia to be undertaken by an Indian company.

  • Singapore based Wilmar International Ltd seeks capital funding from Banks for acquisition of Australian business of CSR Ltd

    Reports emerged Monday that the world’s largest trader in palm oil, Wilmar International Ltd sought about 1.1 billion US dollars in funding from banks in its quest to take over the Australian sugar business of CSR Ltd. According to the reports, the move was made by the company in a bid to raise the money for the acquisition it announced recently will have the bank’s loan it money to the tune of over 1 billion US dollars to enable it undertake the purchase.

  • American firm Wright Express Corporation acquires Australian assets of Retail Decisions

    America’s foremost provider of payment processing and information management services to commercial and Federal fleet industry, Wright Express Corporation, Friday announced it had agreed on a deal that will see it takeover the assets of Retail Decisions in Australia. The agreement is a definitive share purchase deal and the American firm will acquire Australian assets of Retail Decisions such as its fleet and prepaid card businesses from the private equity firm, Palamon Capital Partners together with the firm’s co-investors Morgan Stanley Alternative Investment Partners and AlpInvest Partners for an estimated 318 million US dollars.

  • Australian copper mining company OZ Minerals on the acquisitions trail

    Australian copper mining company, OZ Minerals Thursday said it’s currently keen on undertaking investment purchases and will consider opportunities for acquisitions. The company said it will carry on with its acquisitions strategy and had already gone into non-obligatory offers for various projects.

    Terry Burgess, OZ Minerals chief executive said the company’s strategy for development is targeted at working towards the acquisition of potential projects, reiterating that the company had, as it is, considered three to four prospective projects and had even done due diligence in some projects while in others, it had gone into non-binding agreements.

  • LSE listed British media buying group Aegis poised for Australian Stock Exchange listed media Company Mitchell Communication Group’s takeover

    Mitchell Communication Group, the Australian Stock Exchange Listed media company said Thursday that its board of directors is in support of an A$363 million takeover offer from Aegis Media, the British media buying group. The announcement further revealed that the board had accepted Aegis Media’s offer of A$1.20 for every share inclusive of options and performance rights.

  • Canadian grain handler Viterra Inc mulls more acquisitions further to ABB Grain Ltd

    Canadian grain handler, Viterra Inc Tuesday announced it is keen on making more acquisitions in Australia even as it still seeks the purchase of Australia’s grain handler, ABB Grain Ltd. According to the Canadian firm, it will be considering more acquisitions and would mull over increasing its debt levels if that will enable it undertake its investments plan. As such, Viterra Inc. said it is willing to raise its overall debt to capital ratio by about 30% to 40%, way up from its 25% as of 31st January.

  • Westpac Banking Corp. raises $3 Billion from American debt market

    In a move aimed at ending conjecture over its rumored Asian venture, Westpac Banking Corp, the Australian banking major raised 3 billion US dollars from the American debt markets. In the move, the Australian bank remitted to investors a margin of 93 and 115 basis points consecutively by pricing 1 billion US dollars in three year bonds and 2 billion US dollars in five year bonds.

  • $7 billion of Australian Coal Assets owned by Foreign Mining Firms, FDI in mining on rise

    An Australian mining sector report, undertaken by UBS, has revealed an FDI increase in mining projects in the country with about $7 billion of Coal assets alone being held by foreign companies. According to the report, the number of mergers and acquisitions in the Australian mining sector has increased by a notable margin as foreign companies push for Coal investments in the country.

    The report revealed further that most of the country’s coal assets are being increasingly taken over by Asian companies desperate to cater for the burgeoning energy demands in their countries and subsequently; the rush for Australian coal assets has upped bid valuations for Australian mining companies.

  • Wellington based infrastructure investment firm HRL Morrison & Co putting A$2 billion bid for 99 year lease of Australian Port of Brisbane

    HRL Morrison & Co., the Wellington based infrastructure investment firm is keen on acquiring the Australian Port of Brisbane. HRL Morrison is funded by the New Zealand superannuation fund and is currently bidding with five other companies for the A$2 billion Queensland state government owned port.

    The Queensland state government put the port up for sale and it has attracted a number of firms for the bid. According to Australian media reports HRL Morrison, the manager of Infratil, listed in the New Zealand stock and a well known infrastructure investor, is leading a group of companies bidding for the Brisbane port. However, Morrison & Co would not comment on the emerging media reports.

  • Europe’s homecare company Air Liquide acquires 70% of Snore Australia & 70% of Medions Homecare, South Korean company

    In a bid to capitalize on the growing global homecare market, Air Liquide Thursday announced it had acquired two companies, one in Australia and the other in South Korea. Air Liquide, the world’s third biggest and Europe’s biggest homecare company said the acquisitions are part of its expansion strategy seeking to grow and develop its provision of services via targeted acquisitions in a variety of markets.

    Air Liquide said it had acquired a 70% stake in the Australian company, Snore Australia, one of the country’s foremost companies in the sleep diagnosis segment. According to the Australian firm, its diagnoses have been crucial in the diagnosis and assessment of the levels of disorders in conditions like sleep apnea.