INVESTMENTS

CSL buys way into cell, gene therapy

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Original article by Sarah-Jane Tasker
The Australian – Page: 19 : 29-Aug-17

CSL has announced that it will spend $US91 million ($A114 million) on the purchase of US-based biotechnology company Calimmune. CSL executive Andrew Nash says the purchase of Calimmune gives it access to skills and technologies in the area of gene and cell-based therapies that it does not currently have. He said that CSL has had its eye on Calimmune, which has operations in both the US and Australia, for about a year.

CORPORATES
CSL LIMITED – ASX CSL, CALIMMUNE INCORPORATED

Rivals brace for battle on the streaming front

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Original article by Darren Davidson
The Australian – Page: 6 : 29-Aug-17

The local launch of the CBS All Access subscription video-on-demand service is likely to be a key part of the strategy of Ten Network’s new owner. The fee-based service is expected to complement Ten’s existing "catch-up" streaming service, and CBS intends to make its TV shows available online a week after they are broadcast on Ten’s linear channels. CBS may also seek Australian sports broadcasting rights for its streaming service.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, CBS CORPORATION, CBS ALL ACCESS, STAN ENTERTAINMENT PTY LTD, NINE NETWORK AUSTRALIA LIMITED, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC, FAIRFAX MEDIA LIMITED – ASX FXJ, NETFLIX INCORPORATED, NATIONAL FOOTBALL LEAGUE, SPECIAL BROADCASTING SERVICE (SBS), FOXTEL MANAGEMENT PTY LTD, SHOWTIME, VIACOM INCORPORATED, NATIONAL AMUSEMENTS INCORPORATED, CBS STUDIOS INTERNATIONAL

Media laws gift Ten from News to CBS

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Original article by Max Mason
The Australian Financial Review – Page: 1 & 14 : 29-Aug-17

The deal for US-based CBS to acquire Ten Network will not require changes to cross-media ownership laws, unlike the rival bid from Lachlan Murdoch and Bruce Gordon. The deal only requires approval from Ten’s creditors, a court and the Foreign Investment Review Board. Federal Opposition Leader Bill Shorten says the deal means cross-media ownership reforms are not necessary. Fairfax Media CEO Greg Hywood rejects Shorten’s claim that the proposed media reforms were primarily aimed at saving Ten, arguing that they are intended to ensure that the local media sector remains competition in a changing media landscape.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, CBS CORPORATION, AUSTRALIAN LABOR PARTY, FAIRFAX MEDIA LIMITED – ASX FXJ, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, NEWS CORPORATION – ASX NWS, WIN CORPORATION PTY LTD, CBS ALL ACCESS, NETFLIX INCORPORATED, STAN ENTERTAINMENT PTY LTD, 21ST CENTURY FOX INCORPORATED, CANWEST GLOBAL COMMUNICATIONS CORPORATION, ONE NATION PARTY, AUSTRALIAN BROADCASTING CORPORATION, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, KORDA MENTHA AND COLLEAGUES PTY LTD

Amazon will benefit us: Brambles chair

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Original article by Lisa Allen, Eli Greenblat
The Australian – Page: 19 : 14-Aug-17

Brambles chairman Stephen Johns says that although Amazon will be a "disruptive force" for Australian retailers, its entry into the local market could present an opportunity for the logistics group. He adds that the AmazonFresh business in particular should benefit Brambles’ CHEP and IFCO pallet operations. Morgan Stanley says department stores are likely to be hardest hit by Amazon’s arrival in Australia.

CORPORATES
BRAMBLES LIMITED – ASX BXB, AMAZON.COM INCORPORATED, AMAZONFRESH, CHEP AUSTRALIA, IFFCO GROUP OF COMPANIES, MORGAN STANLEY AUSTRALIA LIMITED, WESFARMERS LIMITED – ASX WES, KMART AUSTRALIA LIMITED, TARGET AUSTRALIA PTY LTD, MYER HOLDINGS LIMITED – ASX MYR, JB HI-FI LIMITED – ASX JBH, WOOLWORTHS LIMITED – ASX WOW, COLES SUPERMARKETS AUSTRALIA PTY LTD

Chinese buyers retreat

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Original article by Angus Grigg
The Australian Financial Review – Page: 1 & 4 : 14-Aug-17

New Chinese Government controls on capital are in part leading to a significant drop in Chinese investment in Australian real estate. Jane Lu, the Australian head of Chinese-focused real estate portal Juwai.com, says other factors include new Australian taxes on foreign buyers and curbs being imposed by Australian banks on loans to overseas buyers. However, she notes that Australia is still the second most favoured nation for Chinese property investors. Morgan Stanley estimates that Chinese buyers accounted for $A20 billion worth of investment in Australian residential property in the 2016 fiscal year.

CORPORATES
JUWAI LIMITED, MORGAN STANLEY AUSTRALIA LIMITED, KPMG AUSTRALIA PTY LTD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, BELLER GROUP, DALIAN WANDA GROUP COMPANY LIMITED

Lone Star joins pack tuning into Ten

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Original article by Max Mason
The Australian Financial Review – Page: 29 : 31-Jul-17

About nine potential buyers of the Ten Network have obtained an information memorandum and signed a non-disclosure agreement. They are believed to include US private equity firm Lone Star Funds, which boasts some $US70bn ($A87.7bn) worth of assets under management. Oaktree Capital Management, hedge fund Anchorage Capital and CBS Corporation have also expressed interest in buying Ten. Indicative bids for the failed network must be submitted by late August.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, LONE STAR FUNDS, OAKTREE CAPITAL MANAGEMENT LLC, ANCHORAGE CAPITAL PARTNERS PTY LTD, CBS CORPORATION, FORTRESS INVESTMENT GROUP LLC, ASTRO JAPAN PROPERTY GROUP – ASX AJA, AWE LIMITED – ASX AWE, PPB ADVISORY, MOELIS AND COMPANY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, 21ST CENTURY FOX INCORPORATED, ILLYRIA PTY LTD, BIRKETU PTY LTD, FOXTEL MANAGEMENT PTY LTD, NEWS CORPORATION – ASX NWS, TELSTRA CORPORATION LIMITED – ASX TLS, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NINE ENTERTAINMENT COMPANY HOLDINGS LIMITED – ASX NEC

Foreign apartment buyers to halve

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Original article by Michael Bleby
The Australian Financial Review – Page: 31 : 24-Jul-17

The number of new apartments funded by foreign investors in Australia is tipped to fall significantly over the period from 2016 to 2019, according to Master Builders Australia. It attributes the expected decline to federal and New South Wales government curbs on foreign property investors. The MBA also expects foreign investment in new standalone properties to decline, but by not as much as apartment investment. The MBA expects NSW to feel the biggest impact in terms of a decline in new foreign investor-funded apartments, but Tim Lawless of CoreLogic suggests that Victoria instead will be most affected.

CORPORATES
MASTER BUILDERS OF AUSTRALIA, CORELOGIC AUSTRALIA PTY LTD

Recycling of assets ‘getting through’ to US

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 11 & 15 : 18-Jul-17

IFM Investors CEO Brett Himbury says the Australian superannuation investor is keen to be involved if the US gets serious about infrastructure asset recycling. Himbury recently visited the US, where he met with officials from a number of states with the potential to be involved in the sale of infrastructure assets in order to raise funds for new infrastructure investment. Goldman Sachs has previously noted that publicly-owned US toll roads alone are worth around $US120 billion.

CORPORATES
IFM INVESTORS PTY LTD, GOLDMAN SACHS AUSTRALIA PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, THE CARLYLE GROUP

Chile’s SQM invests in Kidman lithium project

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Original article by Tess Ingram
The Australian Financial Review – Page: 19 : 13-Jul-17

Kidman Resources has sold a 50 per cent stake in its Earl Grey lithium deposit to Chile-based SQM for $A110m. The deal comprises a cash payment of $A30m, with the balance to be provided in the form of development funding. Rather than merely exporting lithium ore, Kidman and SQM intend to build a processing plant in Australia to convert the ore to lithium hydroxide. John Deniz of Paragon Funds Management says integrated projects are likely to be more resilient if demand for lithium eases.

CORPORATES
KIDMAN RESOURCES LIMITED – ASX KDR, SOCIEDAD QUIMICA Y MINERA SA, PARAGON FUNDS MANAGEMENT, MARINDI METALS LIMITED – ASX MZN, SUPREME COURT OF WESTERN AUSTRALIA, NEOMETALS LIMITED – ASX NMT, MINERAL RESOURCES LIMITED – ASX MIN, TIANQI LITHIUM CORPORATION

Global investors moving ASX funds elsewhere

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Original article by Myriam Robin
The Australian Financial Review – Page: 31 : 23-Jun-17

Some fund managers suggest that the Australian sharemarket’s 1.6 per cent downturn on 21 June was prompted by foreign investors shifting out of local equities. Meanwhile, Tony Brennan and Mark Tomlins of Citigroup say Asian sharemarkets may be more attractive to international investors at present, given their better prospects for earnings upgrades. Hasan Tevfik of Credit Suisse adds that passive fund managers are likely to reduce their exposure to Australian shares in coming years as the MSCI Asia-Pacific ex-Japan’s weighting toward Chinese and Hong Kong-listed shares increases.

CORPORATES
CITIGROUP PTY LTD, CREDIT SUISSE (AUSTRALIA) LIMITED, MSCI ASIA-PACIFIC EX-JAPAN INDEX, MSCI EMERGING MARKETS INDEX, MSCI INCORPORATED, MACQUARIE GROUP LIMITED – ASX MQG, COMPUTERSHARE LIMITED – ASX CPU, MSCI AUSTRALIA INDEX