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Invest In Australia News::

  • Japanese subsidiary of Itochu Corporation acquires 15 per cent stake in Aston Resources Ltd’s Maules Creek Coal Project

    In an announcement Thursday, ITOCHU Minerals & Energy of Australia Pty Ltd, a subsidiary of Japan’s ITOCHU Corporation and Aston Resources Limited said they had signed an agreement that will see the Japanese firm acquire a 15 per cent stake in the Australian coal miner’s Maules Creek Coal Project. Aston Resources Limited is headquartered in Brisbane, Australia. The two firms have been in talks over the deal for over three months.

    ITOCHU Minerals & Energy of Australia Pty Ltd will acquire a 15 per cent interest in the Maules Creek Coal Project that Aston is developing after successful completion of the exclusive negotiations.

  • Rio Tinto Group in talks with Riversdale Mining Ltd over an A$3.5 billion offer

    Australian mining giant Rio Tinto Group reported it held talks with Riversdale Mining Ltd regarding Rio Tinto’s offer of an A$3.5 billion. Rio's Tinto's A$3.5bn (£2.2bn) offer talks with the African coal producer Riversdale Mining is likely to spark a bidding war for the Australian-listed company.

    Riversdale confirmed Monday that it had received an approach from Rio, the world's third-largest mining group. According to Riversdale Mining, the firm had discussions with Rio Tinto concerning a possible transaction for an indicative consideration of A$15 per share. Riversdale shares surged 16pc to close at A$16.31 in Australian trade, some 9pc above the mooted deal price.

  • Danish engineering group FLSmidth in bid to acquire Essa Australia

    Danish engineering group FLSmidth Monday announced it had launched a friendly bid to acquire Essa Australia Ltd. The investment, if successful, is geared at bolstering its position as a supplier to the mining industry in the country.

    In a statement to the securities exchange, Essa Australia said the offer price is A$0.73 cash per Essa share, subject to any dividend adjustment, adding that it had agreed to be bought and that the offer was recommended by its board.

  • ESCO Corporation acquires all of the issued and outstanding shares of Austcast Pty Ltd in Brisbane

    ESCO Corporation reported it had acquired all of the issued and outstanding shares of Austcast Pty Ltd in Brisbane, Australia, and its subsidiary Newlcast in Dunedin, New Zealand. ESCO Corporation is a leading global provider of wear-parts and attachments for the mining and construction industries. The acquisition of these two foundries strengthens ESCO’s product offerings and expansion efforts in Australia by providing local foundry capacity.

  • Canadian firm Agrium Inc. successfully completes acquisition of Australia’s AWB Ltd

    Canadian firm Agrium Inc. Friday said it has successfully completed its acquisition of AWB Limited (AWB) at a price of A$1.50 per share in cash (purchase price of A$1.236-billion) as agreed to in the Scheme of Arrangement, including the A$0.15 per share franked dividend paid on November 30, 2010.

    Mike Wilson, Agrium Chief Executive Officer and President said he was excited about the opportunity to merge AWB's strong market presence and extensive experience with Agrium's international crop input sourcing capabilities, with a view to further enhancing product and service offerings to Australian and New Zealand customers.

  • Spain’s Ebro Foods acquires Australia’s Ricegrowers Ltd trading as SunRice

    Spain’s Ebro Foods announced Wednesday it had gone into an agreement with Australia’s Ricegrowers Ltd, trading as SunRice. In its release, Ebro Foods said that further to the announcement of 20 October 2010, Ebro Foods had entered into a Scheme Implementation Agreement with Ricegrowers Limited, trading as SunRice.

    Under the binding terms and conditions of the Scheme Implementation Agreement, Ebro Foods would acquire 100% of the capital of SunRice on the basis of an Enterprise Value of approximately A$600 million (€440 million).  

  • US based data center reseller and hosting provider to facebook, Digital Realty Trust to spend $350 million on a data centre in Sydney

    US based data center reseller and hosting provider to facebook, Digital Realty is to spend $350 million on a data center in Australia. Digital Realty Trust is to set up a flag in Sydney for 2011 where it plans to spend $350 million on a data centre. Digital Realty has partnered with Macquarie Capital to bid for the NSW government's data centre consolidation project.

    Digital Realty Trust Asia-Pacific chief Kris Kumar said the firm has ambitious plans for regional growth, adding that the firm would like to see 10 per cent of global revenue coming from Asia-Pacific in the next few years.  

  • UK based defense firm BAE Systems announces definitive agreement to acquire Australia’s stratsec.net Pty Ltd

    UK based defense firm BAE Systems announced it had gone into definitive agreement to acquire stratsec.net Pty Ltd, an information security company in the Australian and South East Asian region. BAE Australia's information security division will embed itself within Stratsec following the $24 million acquisition of the Sydney security consultancy.

    Nick Ellsmore, Stratsec chief technology officer said the investment was central to BAE's stated ambition to become a global player in protecting critical infrastructure from malicious attack and hardening it from human error. He was speaking on the sidelines of an AISA Conference in Sydney Tuesday.

  • Diploma Group Limited acquires site for its new residential project in Perth's business district

    Diploma Group Ltd announced Monday it had acquired the site for its latest residential project. Diploma reiterated the site will be located in Perth’s business district at Adelaide Terrace. The site is an 872 square meter property is an addition to the company's presence in the area after having already finished developing high rise residential towers.

    The proposed high-rise residential development is slated to build 70 units of one to two bedroom apartments spread out in 20 floors and costing US$60 million. The construction period will take two years with a scheduled completion date in 2014. It will also include scenic views of the Swan River estuary.

  • UK based Healthcare Locums plc enters an agreement to acquire Healthcare Australia Holdings Pty Ltd

    Healthcare Locums Plc announced it had gone into an agreement for the acquisition of the entire issued and to be issued share capital of Healthcare Australia Holdings Pty Ltd. In a release, the Board of Healthcare Locums Plc said the firm is to acquire the entire issued and to be issued share capital of Healthcare Australia Holdings Pty Ltd from certain CHAMP Private Equity funds and a small number of private individuals, for a total consideration of AU$122.5m (approximately £75.2m) payable in cash on completion.

  • Australian regulators approve NZ Based Vital Healthcare’s $160 million purchase of twelve Australian medical related buildings

    New Zealand based Vital Healthcare Thursday got approval for its purchase of Australian medical related buildings. In an announcement, Vital Healthcare said its $160 million purchase of twelve Australian medical related buildings had been approved. Investors of Essential Healthcare Trust in Australia voted in favor of selling its assets to the New Zealand listed Vital Healthcare.

    The properties are 99.9 per cent occupied and have an average lease term of 15.4 years. The properties include 258-bed Allamanda Private Hospital and day surgery Allamanda Surgicentre on the Gold Coast, 101-bed Lingard Private Hospital n Newcastle, 60 bed Maitland Private Hospital, 78-bed psychiatric hospital Palm Beach Currumbin clinic.

  • Australia to reconsider overseas investment in its farms amidst concerns over foreign ownership and food security

    The Australian government is to reconsider the level of overseas investment in its farms as concerns pick up over foreign ownership and food security. Australia is currently the world’s largest wool shipper and the second biggest dairy and beef exporter. The government is to study the level of overseas investment in its farms amid concern over foreign ownership and food security.

     

  • Irish food processing giant Kerry Group buys Australian frozen bakery business of US based General Mills

    Irish food processing giant Kerry Group purchased the Australia operations of the world’s foremost firm in food ingredients and flavors, General Mills. The Irish firm announced it had acquired the frozen bakery business from General Mills for an undisclosed sum. However, valuations believed the sum to be in excess of €20m.

  • London Stock Exchange listed Optos plc buys entire issued share capital of Adelaide based Opto Global Holdings

    Optos Plc, listed on the London Stock Exchange and one of the global foremost firms in medical retinal imaging Tuesday announced it had proposed the acquisition of Australia’s Opto Global Holdings Pty Ltd. Under the proposal, Optos plc has proposed the acquisition of the entire issued share capital of Opto Global Holdings Pty Ltd, an ophthalmic device company based in Adelaide, South Australia, for up to US$14.75 million.

  • UAE’s national carrier Etihad Airways and Virgin Blue Holdings Ltd to further expand their alliance

    Etihad Airways and Virgin Blue Holdings Ltd are planning to expand their alliance. Etihad Airways is the UAE’s national carrier while Virgin Blue Holdings Ltd is Australia’s second-largest airline. According to reports regarding the planned expansion, the two firms may increase their business in aspects such as purchasing, engineering support and aircraft acquisitions as the airlines try to cut costs.

    The plans were revealed in an interview by The Australian newspaper, with Etihad’s Chief Executive Officer James Hogan and Virgin Blue Chief Executive Officer John Borghetti. According to the report the carriers plan to build a joint lounge at Sydney Airport.

  • World’s largest mining firm BHP Billiton Ltd mulls possible merger with Woodside Petroleum Ltd

    The world’s largest mining firm BHP Billiton Ltd may go for a possible merger with Australia’s Woodside Petroleum Ltd. The reports come in the wake of BHP’s scrapping of its offer for Canadian firm Potash Corp. BHP had offered $40 billion for the Canadian firm. Whereas BHP could easily swallow Woodside in a takeover given its financial might, analysts believe the merger may present a better alternative for the firm.

  • Australia’s competition watchdog ACCC stops Pick n Pay sale of supermarket

    Australia’s competition watchdog stopped Pick n Pay’s PIKJ.J sale of Franklins supermarket chain, citing a need to avoid the creation of a monopoly for would be buyer Metcash MTS. The Australian Competition and Consumer Commission (ACCC) noted that the A$215 million ($210 million) sale of the chain would give Metcash domination on grocery wholesaling in New South Wales.

  • Dairy processor Murray Goulburn still keen on merger with rival Warrnambool Cheese and Butter

    Australian Dairy processor Murray Goulburn has indicated that it is still interested in a merger with its industry rival. Murray Goulburn said it will sustain its interest with offers, despite the move having been turned down by the rival severally. The two dairy processors both purchase their milk supplies from south east South Australian dairy farmers/producers.

     

  • Oil India Ltd studying small assets in Australia and Other places

    Indian state owned oil and gas major, Oil India Ltd is reportedly prospecting small assets in Australia, South America and Africa. The move is aimed at securing supplies for India’s rapidly expanding economy. Oil India Ltd is competing with other global oil majors for acquisitions.

    Oil India Ltd Finance Director T.K. Ananth Kumar said the firm is looking for small and medium-size assets in the range of $1 billion or less and not multibillion ones. Kumar reiterated that the firm’s competitors such as the Chinese and South Koreans won’t be interested in these smaller assets.

  • Japan based Nikko Asset Management Co. acquires Tyndall Investments from Suncorp Group

    Nikko Asset Management Tuesday announced it is acquiring Tyndall Investments from the Suncorp Group. Tyndall Investments is one of Australia’s foremost fund management companies. Nikko will undertake the purchase for an estimated $80 million. Suncorp is one of Australia and New Zealand's largest financial services organizations. Tyndall manages Australian and New Zealand investment funds with $25 billion in assets under management.

  • ASX listed OneSteel acquires grinding media producers Moly-Cop and AltaSteel for $932 million

    OneSteel Monday reported it had acquired Moly-Cop and AltaSteel, producers of grinding media for the mining industry. The Australian listed OneSteel said it had acquired the two firms from Anglo American for an investment consideration of $932 million. Moly-Cop produces forged steel grinding balls for heat-treated grinding media, while AltaSteel produces ball stock for forged grinding balls for supply to Moly-Cop and heat-treated grinding rods to the mining industry across North and South America.

  • Straits Resources to sell its South East Asian coal assets to JV partner PTT International Co.

    Straits Resources reported it had agreed to sell its South East Asian coal assets to its joint venture partner PTT International Co. Straits Resources’ shares went up with the announcement of the sale to the Thai energy major PTT. Straits Resources is planning a demerger of its coal business and is mulling a sell of 100 per cent of its shares to PTT Mining Ltd. PTT Mining will part with an estimated $1.72 for every share of Straits Resources.

  • Panalpina Group acquires its long-time Australian partner, Apollo Forwarding

    Panalpina announced it had acquired its long standing Australian partner, Apollo Forwarding, based in South Australia. Panalpina, the global transport and logistics firm showcased its commitment to its strategy targeting enhanced growth in the Oceania expanse. The acquisition was effective with the announcement, said the firm. Apollo Forwarding and Panalpina have been partners for a decade now, with the Australian firm acting as Panalpina’s agent both domestically and globally.

  • Wilmar Australia gets approval from authorities for Sucrogen takeover

    Wilmar International Ltd’s wholly owned subsidiary Wilmar Australia Pty Ltd has received the go ahead for the takeover of Australia’s Sucrogen Ltd. The Wilmar International subsidiary first announced its offer for Sucrogen back in July, pending regulatory approvals to seal the deal. The Australian authorities Thursday approved the investment, with the country’s Treasurer Wayne Swan, announcing the approval.

    Hon. Wayne Swan said the Singaporean firm’s application for acquisition of Australia’s CSR Ltd to the Foreign Investment Review Board (FIRB) had been accepted. Wilmar is confident that its ownership will benefit Sucrogen's current operations and enhance the overall Queensland sugar industry.