SYDNEY, AUSTRALIA: Westpac Group has agreed with Fidelity Life Assurance Company Limited to sell Westpac Life-NZ- Limited and enter into an exclusive 15-year agreement for the distribution of life insurance products to Westpac’s New Zealand customers. The sale price of NZ$400 million is expected to result in a post-tax gain on sale and add approximately…
Category: Australian Exchange
Australian Securities Exchange news today and company announcements regarding mergers, acquisitions, appointments, expansion and technology of companies listed on Australian Securities Exchange (ASX).
Carnarvon and FIG form joint venture to produce renewable diesel
SYDNEY, AUSTRALIA: Carnarvon Petroleum Limited has formed a joint venture with Frontier Impact Group (FIG) to produce renewable diesel. Frontier Impact Group (FIG) has been actively progressing a bio refinery business in Western Australia to produce renewable diesel and other highly valuable products. The joint venture plans to use internationally proven technology to process waste…
Rohan Dhowan appointed Chief Executive Officer at Invigor Group Limited
SYDNEY, AUSTRALIA: Invigor Group Limited (ASX: IVO) has appointed Rohan Dhowan as Chief Executive Officer (CEO) of the Company. Gary Cohen is stepping down as CEO but will remain Executive Chairman of the Company. Rohan Dhowan has been the Sales Director at Invigor for almost 2 years and has played a pivotal role in assisting…
Toys“R”Us sells Chill Factor business to Character Promotions for $1.31 million
SYDNEY, AUSTRALIA: Toys“R”Us ANZ Limited (ASX: TOY) announced the sale of its Chill Factor business to Character Promotions Limited, a UK based toy manufacturer and distributor. The sale continues the strategic intent and transformation of the Company through an ongoing overhaul of product portfolios, including an increased focus on its e-commerce businesses Toys“R”Us, Babies“R”Us and…
Tabcorp Holdings to demerge Lotteries & Keno business creating two separate listed companies
SYDNEY, AUSTRALIA: Tabcorp Holdings Limited (Tabcorp) today announces that it intends to undertake a demerger of its Lotteries & Keno business. The decision to pursue a demerger follows the conclusion of a comprehensive strategic review of all relevant structural and ownership options to maximise value for shareholders, as announced on 29 March 2021. The demerger…
Consortium of infrastructure investors bid to acquire Sydney Airport
SYDNEY, AUSTRALIA: Sydney Airport has received an unsolicited, indicative, conditional and non-binding proposal from a consortium of infrastructure investors to acquire, by way of scheme of arrangement and trust scheme, 100% of the stapled securities in Sydney Airport at an indicative price of A$8.25 cash per stapled security. The consortium comprises IFM Investors (Nominees) Limited…
HomeCo Daily Needs REIT buys Town Centre Victoria Point in a $160 million deal
SYDNEY, AUSTRALIA: HomeCo Daily Needs REIT has announced acquisition of a 100% interest in Town Centre Victoria Point, QLD for a total purchase price of $160.0 million representing a fully leased yield of 4.75%. HDN Fund Portfolio Manager Paul Doherty said: “Opportunities to acquire an asset of this quality and scale are rare, particularly one…
Cannasouth to fully acquire it’s cultivation and manufacturing joint ventures for $4.5 million
WELLINGTON, NEW ZEALAND: Cannasouth Limited (NZX: CBD) has today entered into two conditional agreements to buy the balance of the shares that it does not already own in its cultivation and manufacturing joint venture businesses. Acquisition of outstanding shares in Cannasouth Cultivation Limited Cannasouth has entered into a conditional agreement with Aaron Craig and his…
New Zealand Overseas Investment Office okays a2MC acquisition of 75% interest in Mataura Valley Milk
AUCKLAND, NEW ZEALAND: The a2 Milk Company (a2MC) has received the consent of New Zealand Overseas Investment Office (OIO) to acquire a 75% interest in Mataura Valley Milk (MVM), a dairy nutrition business, located in Southland, New Zealand. Completion of the transaction is now to set to occur with effect from the end of July….
Kiwi Property launches green bond offer
AUCKLAND, NEW ZEALAND: Kiwi Property Group Limited is offering up to NZ$100 million (plus up to NZ$50 million of oversubscriptions) of seven-year fixed-rate senior secured green bonds to institutional and New Zealand retail investors, a news release said. The offer opens today and will be made pursuant to the Financial Markets Conduct Act 2013 as…
Telstra sells 49 percent of Telstra InfraCo Towers for $2.8 billion
SYDNEY, AUSTRALIA: Telstra Corporation announced a consortium comprising the Future Fund, Commonwealth Superannuation Corporation and Sunsuper will become a strategic partner in Telstra InfraCo Towers after agreeing to acquire a 49 per cent interest. The Towers business is the largest mobile tower infrastructure provider in Australia with approximately 8,200 towers. The transaction values Telstra InfraCo…
Rio Tinto declares force majeure at Richards Bay Minerals
SYDNEY, AUSTRALIA: Rio Tinto has declared force majeure on customer contracts at Richards Bay Minerals (RBM) in South Africa due to an escalation in the security situation at the operations. This has led to the decision to cease operations until the safety and security position improves. Rio Tinto chief executive Minerals, Sinead Kaufman, said: “The…