Tuesday, 21 May 2019 Sydney

Invest In Australia News::

  • 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.

  • Speech recognition product company Nuance Communications buys Information Technologies Australia

    In an announcement Wednesday, Nuance Communications, the speech recognition products company said it had bought the Australian IT firm, Information Technologies Australia (iTa). The Australian IT firm provides automated customer services and in the deal, iTa’s executives will retain their places at Nuance in what the company said is to help grow Nuance’s business further.

  • A2 NZ shareholders approve deal for remaining A2 Dairy products Australia stake

    A2 New Zealand shareholders Tuesday approved a deal that seeks to buy the 50% stake remaining in Australian company A2 Dairy Products. The deal will see Australian Stock Listed Company Freedom Nutritional Products, its partner in the Australian venture, acquire 25% stake in A2 Corp upon completion of the deal, with the choice of upping its stake later to about 27%. According to A2 Corp, it hopes the deal will give it special rights for it to produce and sale its milk products in Australia and Japan.

  • Private hospital operator Healthscope’s Board approves US based Carlyle Group takeover

    Australia’s second biggest private hospital operator, Healthscope, Tuesday announced it board had approved the proposed investment takeover from the Carlyle Group, based in the US. According to the announcement, the board agreed to the A$2 billion takeover bid from the American private equity Group undertaken in conjunction with TPG Capital.


  • Australian Government reaches agreement on resources tax

    The Federal Government has reached agreement on improved resource tax arrangements that address the concerns of the resource industry.

    According to Deputy Prime Minsiter and Treasurer Wayne Swan, the agreement provides certainty to the resources industry, to mining communities right around the country, and to the broader Australian economy.

    "The breakthrough agreement keeps faith with our central goal from day one: to deliver a better return for the Australian people for the resources they own and which can only be dug up once. It is the result of intense consultation and negotiation with the resources industry," Swan said.

  • Carbon trust programs to boost energy efficiency and carbon reductions

    Australian Carbon Trust today announced the commencement of two of its national programs, with plans for building strategic relationships with major businesses and the wider community to retrofit non-residential buildings and certify their businesses, products and services under a new Carbon Neutral Program.  

    The Australian Carbon Trust is now seeking Expressions of Interest from financial institutions, businesses and service providers, who wish to work with the Trust on energy efficiency projects in the non-residential buildings sector across Australia.

  • Innovative water-saving device launched by H20 Organiser Ltd

    H20 Organiser Ltd has designed a water control and monitoring device which it claims has the potential to save households and commercial premises up to 180 million litres of water a year nationwide.


    According to H20 Organiser, the H20 Water Pressure Controller and Town Saver products present an easy and cost-effective solution to the ongoing problem of water wastage by monitoring the flow of electricity, rather than the flow of water to a pump - enabling the device to sense when a pump is running unnecessarily and avoid potentially disastrous losses of water.


  • New Queensland infrastructure positive for property values

    Property owners and investors across South East Queensland can take heart in the fact that the infrastructure being rolled out across the region will underpin future capital in their investment, according to the Property Council of Australia.

    Property Council of Australia Queensland executive Director Steve Greenwood that the investment in
    infrastructure being made by all three levels of government in South East Queensland was good for
    property owners.

    “History has shown us that investment in infrastructure delivers real increases in property values and

  • Leading Australian and Taiwanese biotech companies announce collaboration

    Progen Pharmaceuticals Ltd (ASX:PGL, NASDAQ:PGLA) announced it has signed a License and Collaboration Agreement with Medigen Biotech Corporation (Taipei, Taiwan) for the development and commercialisation of muparfostat (PI-88) globally.


    Muparfostat is a multi-targeted cancer therapeutic in late stage development which inhibits
    both angiogenesis (or tumour promoting) factors, Fibroblast Growth Factors (FGF) 1 and 2, and heparanase, an enzyme implicated in metastasis (tumour spread).

    This agreement creates a binding arrangement between the parties.


  • Skilled occupations list for migrants updated

    A major reform to the skilled migration program which comes into effect today will help
    deliver workers needed to meet skills shortages in the Australian economy, Minister for
    Immigration and Citizenship, Senator Chris Evans said.

    The new skilled occupations list (SOL) will apply from 1 July and provide employers with
    access to skilled workers from 181 highly valued occupations, including managerial,
    professional, technical and trade occupations.

    “The Government’s reforms to the skilled migration program are delivering the workers our
    economy need to the regions where there is real demand,” Senator Evans said.


  • New report on bioenergy opportunities

    Bioenergy – an industry that has significant potential to help Australia reduce its greenhouse gas emissions and dependence on fossil fuels – is the focus of a new report released by the Rural Industries Research and Development Corporation (RIRDC).

    Overview of Bioenergy in Australia provides a comprehensive overview of the $400 million a year industry, and addresses how bioenergy can help contribute to Australia’s low carbon future.

    Speaking at Bioenergy Australia’s quarterly meeting, RIRDC’s General Manager for New Rural Industries, Dr Roslyn Prinsley said Overview of Bioenergy in Australia will serve as a valuable tool for policy makers, industry participants and potential investors in the industry.

  • Certainty for large renewable energy projects through new legislation

    The passage of the enhanced Renewable Energy Target and Building Energy Efficiency legislation through the Australian Parliament will provide a more solid footing for large renewable energy proejcts, according to Minister for Climate Change and Energy Efficiency, Senator Penny Wong.


  • Australia moves up in private banking market rankings

    The Capgemini and Merrill Lynch 2010 World Wealth Report has shown Australia has become the third largest private wealth market in the Asia Pacific and the 10th largest in the world.


  • Government cuts red tape for business

    The Minister for Financial Services, Superannuation and Corporate Law, Chris Bowen MP, has welcomed the final approval of Regulations to accompany legislation passed by Parliament last week to reduce red tape for business.

    The Regulations were approved by the Executive Council today and support the Corporate Reporting Reform Act 2010, which contains a range of measures to reduce the regulatory burden on business and improve Australia’s corporate reporting framework.

  • Allegro Private Equity launches Fund II

    Allegro Private Equity has launched a new fund called Allegro Fund II to raise more than $200 million to invest in the growing number of smaller mid-market private equity opportunities that have emerged post global financial crisis.

    Macquarie has already been secured as a cornerstone investor for the fund, which will target turnaround businesses in Australia and New Zealand requiring capital to restructure or unlock potential growth, as well as emerging business requiring funds to accelerate growth.

    Chester Moynihan, joint managing director, Allegro Private Equity, said the fund is looking to capitalise on mid-market private investment opportunities emerging as the economic outlook in the Australia New Zealand region improves.

  • Australian scientists demonstrate new source of clean energy

    Australian scientists have demonstrated a new source of clean energy in the latest issue of prestigious science journal Nature Materials. Dr Zhiguo Yi and Professor Ray Withers from the Research School of Chemistry at the Australian National University in Canberra worked with colleagues at the National Insitute of Materials Science in Japan and Nanjing University in China to show how the inorganic compound silver orthophosphate can oxidise water with the power of light.

    The oxidisation process can be used to break down organic contaminants in water and opens up the possibility of using solar energy to ‘split’ water into oxygen and hydrogen to be used as clean fuel.