BUSINESSMEN – AUSTRALIA

Ainsworth cashes out $473m pokies stake

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Original article by Perry Williams
The Australian Financial Review – Page: 21 : 24-Feb-16

Australian-listed poker machine maker Ainsworth Game Technology has posted a 2015-16 interim net profit of $A33.1m, which is four per cent lower than previously. Meanwhile, founder Len Ainsworth has sold his 53 per cent stake in the group to Novomatic for about $A473m. Ainsworth will remain chairman, and intends to donate some of the proceeds of the sale to philanthropic causes such as medical research.

CORPORATES
AINSWORTH GAME TECHNOLOGY LIMITED – ASX AGI, NOVOMATIC, ARISTOCRAT LEISURE LIMITED – ASX ALL, ST VINCENT’S HOSPITAL SYDNEY LIMITED, WATERMARK FUNDS MANAGEMENT PTY LTD

Taxpayers may yet have to prop up Palmer firm

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Original article by Mark Ludlow
The Australian Financial Review – Page: 3 : 22-Jan-16

Queensland Nickel administrator FTI Consulting will consider a range of restructuring options for the failed company, which operates the Yabulu refinery. Any restructuring strategy is likely to take several months to develop, but FTI has approached the State Government regarding options such as tax relief or a loan guarantee. Queensland Nickel’s owner, businessman Clive Palmer has indicated that he will not comment further on the collapse before the creditors’ meeting on 29 January 2016.

CORPORATES
QUEENSLAND NICKEL PTY LTD, FTI CONSULTING PTY LTD, AURIZON HOLDINGS LIMITED – ASX AZJ, AUSTRALIAN TAXATION OFFICE, SUNCORP GROUP LIMITED – ASX SUN, BANK OF QUEENSLAND LIMITED – ASX BOQ, QUEENSLAND. DEPT OF STATE DEVELOPMENT, TRADE AND INNOVATION, QUEENSLAND. TREASURY, AUSTRALIAN LABOR PARTY, LIBERAL-NATIONAL PARTY OF QUEENSLAND, COOLUM RESORT PTY LTD, BHP BILLITON LIMITED – ASX BHP

AWU sools watchdog on to Palmer Nickel

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Original article by Sarah Elks, Jared Owens, Rosie Lewis
The Australian – Page: 6 : 20-Jan-16

The Australian Securities & Investments Commission has been asked to investigate Queensland Nickel for potential breaches of the Corporations Act. Australian Workers’ Union state secretary Ben Swan has raised concern about the company’s donations to the political party of Clive Palmer, who is Queensland Nickel’s only shareholder. Swan also says Palmer may have been a "shadow director", despite resigning as a Queensland Nickel director in early 2015.

CORPORATES
QUEENSLAND NICKEL PTY LTD, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AURIZON HOLDINGS LIMITED – ASX AZJ, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, NATIONAL TEXTILES LIMITED, ONE.TEL LIMITED, UNIVERSITY OF SYDNEY, PALMER UNITED PARTY

Reward those who take risks: Packer

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Original article by Damon Kitney, Christine Lacy
The Australian – Page: 3 : 21-Dec-15

Australian businessman James Packer says the nation must encourage entrepreneurship and innovation, and reward businesses and individuals for taking risks in order to succeed. He also stresses the need for Australia to have a quality education system in order to become a "smart country" following the end of the resources boom. Packer is holding talks with groups such as private equity firms regarding a proposal to delist Crown Resorts.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, QANTAS AIRWAYS LIMITED – ASX QAN, BHP BILLITON LIMITED – ASX BHP, SEEK LIMITED – ASX SEK

Cowin’s fee solution to penalty rate stand-off

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Original article by Sue Mitchell
The Australian Financial Review – Page: 4 : 18-Dec-15

Australian businessman Jack Cowin has warned that industries such as hospitality will be forced to increase their prices unless weekend penalty rates are reduced. The founder of Hungry Jack’s argues that fast food restaurants and hotels will need to lift their prices if they have to keep paying people higher wages for doing the same job on weekends as on weekdays. Russell Zimmerman of the Australian Retailers Association says lower penalty rates would enable retailers to employ more staff.

CORPORATES
HUNGRY JACK’S PTY LTD, AUSTRALIAN RETAILERS ASSOCIATION, DOMINO’S PIZZA ENTERPRISES LIMITED – ASX DMP, FAIRFAX MEDIA LIMITED – ASX FXJ, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

Packer pushes for Crown deal

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Original article by Perry Williams
The Australian Financial Review – Page: 15 : 18-Dec-15

Crown Resorts chairman James Packer is believed to favour fully rather than partially privatising the listed casino operator. Packer’s Consolidated Press Holdings, which has a 53 per cent stake in Crown, has stressed that directors of Crown have not been presented with any proposals to privatise the group. Delisting Crown is likely to cost around $A5bn, and groups such as private equity firms or pension funds could potentially help Packer to finance any such deal.

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, CONSOLIDATED PRESS HOLDINGS LIMITED, MELCO CROWN ENTERTAINMENT LIMITED, DEUTSCHE BANK AG

No shock at plunge: Dick Smith

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Original article by Patrick Hatch
The Australian Financial Review – Page: 14 : 8-Dec-15

Shares in Dick Smith Holdings (DSH) closed at $A0.36 on 7 December 2015, after reaching a low of $A0.20 in the previous week. The household electronics retailer’s stock was issued at $A2.20 in a $A520m IPO in 2013. Businessman Dick Smith says investors should not be surprised by the slump, noting that Woolworths has sold DSH for just $A94m only one year before the float. However, Smith is confident that the fortunes of the company he founded in 1968 can be revived.

CORPORATES
DICK SMITH HOLDINGS LIMITED – ASX DSH, WOOLWORTHS LIMITED – ASX WOW, ANCHORAGE CAPITAL PARTNERS PTY LTD, JB HI-FI LIMITED – ASX JBH, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, APPLE INCORPORATED, SAMSUNG ELECTRONICS COMPANY LIMITED

SeaLink and Rich Lister Little eye Melbourne ferry services

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Original article by Simon Evans
The Australian Financial Review – Page: 31 : 28-Oct-15

Australian-listed SeaLink Travel Group is examining the feasibility of operating passenger ferries from Wyndham, Portarlington and Williamstown to the Docklands precinct in Melbourne. The group is working on the proposal with property developer and former Toll Holdings CEO Paul Little. SeaLink operates ferry services in South Australia and New South Wales.

CORPORATES
SEALINK TRAVEL GROUP LIMITED – ASX SLK, TOLL HOLDINGS LIMITED, LITTLE PROJECTS PTY LTD, CAPTAIN COOK CRUISES TRAVEL PTY LTD, TRANSIT SYSTEMS PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Gordon expands media empire with Nine stake

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Original article by Max Mason
The Australian Financial Review – Page: 13 & 18 : 21-Oct-15

US-based Apollo Global Management will reduce its stake in Nine Entertainment Company to nine per cent after agreeing to sell about 13 per cent of its holding to Bruce Gordon. The Bermuda-based businessman will pay around $A200m for the holding via his private company, Birketu. This will increase the WIN Corporation owner’s total stake in Nine to 14.95 per cent. Gordon also has a 14.95 per cent stake in Ten Network.

CORPORATES
NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, WIN CORPORATION PTY LTD, BIRKETU PTY LTD, APOLLO GLOBAL MANAGEMENT LLC, TEN NETWORK HOLDINGS LIMITED – ASX TEN, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, PRIME MEDIA GROUP LIMITED – ASX PRT, SEVEN WEST MEDIA LIMITED – ASX SWM, NETFLIX INCORPORATED, FREE TV AUSTRALIA LIMITED, FAIRFAX MEDIA LIMITED – ASX FXJ, MACQUARIE GROUP LIMITED – ASX MQG, UBS HOLDINGS PTY LTD, KPMG AUSTRALIA PTY LTD, FOXTEL MANAGEMENT PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Ron Walker’s cancer drug crusade pays national dividends

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Original article by Anne Hyland
The Australian Financial Review – Page: 1 : 29-Jun-15

The Australian Government will subside a cancer treatment that has been credited with saving the life of businessman Ron Walker. Keytruda will be added to the list of cancer drugs that are subsidised via the Pharmaceutical Benefits Scheme, which means cancer patients will pay at most just $A37.70 to access the drug. It would previously have cost some $A150,000 per year to be treated with Keytruda. Walker had lobbied the Government to subsidise the drug.

CORPORATES
AUSTRALIA. DEPT OF HEALTH, MERCK AND COMPANY INCORPORATED, LIBERAL PARTY OF AUSTRALIA