INVESTMENTS

Mongolia flags Rio mine exit

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Original article by Matt Chambers
The Australian – Page: 21 : 6-Feb-15

New Mongolian Prime Minister Saikhanbileg Chimed has signalled a changed approach that may benefit Australian-listed resources group Rio Tinto. It is the parent of Canada-based Turquoise Hill Resources, which in turn holds two thirds of the major Oyu Tolgoi gold and copper mine in Mongolia. A drawn-out dispute over the cost of an underground expansion with the Government may now be resolved, as the state is ready to divest most or all of its 34% stake. Rio would gain full control, but also pay increased royalties and take on more of the upgrade’s cost of $US5bn ($A6.4bn)

CORPORATES
RIO TINTO LIMITED – ASX RIO, TURQUOISE HILL RESOURCES LIMITED, OYU TOLGOI LLC

China poised to boost investment in Australia

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Original article by Scott Murdoch, Annabel Hepworth, Wang Yuanyuan
The Australian – Page: 19 : 3-Feb-15

China’s State Council has ruled that the nation will use its $US3trn ($A3.9trn) worth of foreign currency reserves to make investments overseas. The targets will include major infrastructure projects, and Australia is set to be among the nations benefiting from the inflow of funds. The groundwork was laid by the Australian Government’s recent signing of a new free trade agreement with China. However some uncertainty remains on the issue of Chinese state-owned enterprises needing approval from Australia’s Foreign Investment Review Board for large asset purchases

CORPORATES
AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, CHINA. STATE COUNCIL, BANK OF AMERICA AUSTRALIA LIMITED, MERRILL LYNCH (AUSTRALIA) PTY LTD, HSBC AUSTRALIA HOLDINGS PTY LTD, CORRS CHAMBERS WESTGARTH, INFRASTRUCTURE PARTNERSHIPS AUSTRALIA, QINGHUA UNIVERSITY

Murdoch exits streaming as Rdio revamps

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Original article by Dominic White
The Australian Financial Review – Page: 37 : 2-Feb-15

Nova Entertainment, the radio stations group behind the Nova and Smooth FM networks owned by Lachlan Murdoch, in 2012 entered into a joint venture with US-based Rdio. The latter will now mount an increased effort to boost its local market share, after Nova divested its 50% stake in their Rdio Australia vehicle in late 2014. A number of similar online music streaming services have been closed recently, due to the dominance of Spotify and Pandora

CORPORATES
RDIO INCORPORATED, NOVA ENTERTAINMENT PTY LTD, SPOTIFY LIMITED, PANDORA MEDIA INCORPORATED, SOUTHERN CROSS MEDIA GROUP LIMITED – ASX SXL, AUSTEREO GROUP LIMITED, SONY MUSIC ENTERTAINMENT (AUSTRALIA) LIMITED, UNIVERSAL MUSIC AUSTRALIA PTY LTD, DEEZER, LIVE NATION AUSTRALASIA PTY LTD, THE GOLDMAN SACHS GROUP INCORPORATED

Sanitarium ups and goes to UK market

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Original article by Sue Mitchell
The Australian Financial Review – Page: 15 : 30-Jan-15

Australian food company Sanitarium hopes to capitalise on growth opportunities in the British liquid breakfast market. The group will sell its Up&Go product in UK supermarkets via a joint venture company called Life Health Foods UK. Up&Go’s share of Australia’s liquid breakfast market exceeds 90 per cent, and Sanitarium aims to gain more than 60 per cent of the UK market. Up&Go will compete with the rival product of UK-based Weetabix

CORPORATES
SANITARIUM HEALTH FOOD COMPANY, WEETABIX LIMITED, LIFE HEALTH FOODS UK, WINGATE ASSET MANAGEMENT PTY LTD, BRIGHT FOOD GROUP COMPANY LIMITED, SEVENTH DAY ADVENTIST CHURCH, TESCO PLC, KELLOGG (AUSTRALIA) PTY LTD, NESTLE AUSTRALIA LIMITED

Rio moves to solve Mongolian standoff

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Original article by Matt Chambers
The Australian – Page: 24 : 27-Jan-15

Australian-listed resources group Rio Tinto has for some time tried to gain approval for an expansion to underground mining at the Oyu Tolgoi copper and gold operation in Mongolia. Rio owns the majority of Turquoise Hill Resources, which in turn holds two thirds of the asset while the Mongolian Government has the rest. It has now emerged that Rio is offering the Government an increased royalty take, worth $US1.6bn ($A2bn), in order to bring the negotiations to a speedy conclusion

CORPORATES
RIO TINTO LIMITED – ASX RIO, TURQUOISE HILL RESOURCES LIMITED, OYU TOLGOI LLC

William Hill bets on 80-year-old brand

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Original article by Jessica Gardner
The Australian Financial Review – Page: 17 : 21-Jan-15

The William Hill brand will replace those of Sportingbet, Tom Waterhouse and Centrebet in Australia in the months ahead. The 80-year-old UK group, which is named for its founder, will begin with the Sportingbet name in February 2015. William Hill will foster awareness of its own brand by increasing its Australian marketing budget by $A10 million. Plans for the name change had been abandoned by Sportingbet founder Michael Sullivan, then-CEO of William Hill Australia, in October 2013

CORPORATES
WILLIAM HILL AUSTRALIA PTY LTD, WILLIAM HILL LIMITED, SPORTINGBET AUSTRALIA PTY LTD, CENTREBET INTERNATIONAL LIMITED, SBET AUSTRALIA PTY LTD, SPORTINGBET PLC, TOM WATERHOUSE (VIC) PTY LTD, TABCORP HOLDINGS LIMITED – ASX TAH, TATTS GROUP LIMITED – ASX TTS, BETEASY PTY LTD, LADBROKES GROUP PLC, PADDY POWER PLC

Jetpack float set to take off with China backer

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Original article by Sally Rose
The Australian Financial Review – Page: 21 : 16-Jan-15

New Zealand’s Martin Aircraft Company will be listed on the Australian stock exchange in February 2015. The group announced in mid-January 2015 that Hong Kong investment fund KuangChi Science will invest up to $A50 million in Martin Aircraft within the next two and a half years. The funds will be used to commercialise Martin Aircraft’s new jetpack

CORPORATES
MARTIN AIRCRAFT COMPANY LIMITED – ASX MJP, KUANGCHI SCIENCE LIMITED, NEW ZEALAND AIRWAYS LIMITED

Japanese HR giant to pay $290m for Chandler Macleod

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Original article by David Ramli, Jake Mitchell
The Australian Financial Review – Page: 11 : 15-Jan-15

The consolidation in Australia’s recruitment sector is continuing, with Japan-based Recruit Holdings securing a deal to acquire Chandler Macleod. Recruit will pay $A290m for the listed company, which has a market capitalisation of about $A165m. Recruit will also acquire Peoplebank, which specialises in IT recruitment. Peoplebank CEO Peter Acheson says it will continue to operate as a separate business

CORPORATES
CHANDLER MACLEOD GROUP LIMITED – ASX CMG, RECRUIT HOLDINGS COMPANY LIMITED, PEOPLEBANK AUSTRALIA LIMITED, NAVIS CAPITAL PARTNERS LIMITED, SKILLED GROUP LIMITED – ASX SKE, PROGRAMMED MAINTENANCE SERVICES LIMITED – ASX PRG, GREENHILL AND COMPANY

Chinese buyers eyeing food, dairy, says UBS

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Original article by Anthony Macdonald
The Australian Financial Review – Page: 11 & 18 : 14-Jan-15

David Chin of UBS expects Chinese companies to become more active in acquiring assets in Australia’s agribusiness sector. Chin notes that the issue of food security is becoming increasingly important in China, which is likely to prompt greater interest in Australia’s food and dairy products sectors, as well as rural properties. Chin also expects Chinese groups to be interested in the privatisation of Queensland and New South Wales electricity assets

CORPORATES
UBS AG, DEALOGIC (AUSTRALIA) PTY LTD, STATE GRID CORPORATION OF CHINA, UBS HOLDINGS PTY LTD, DEUTSCHE BANK AG

Foreigners dive in to Aussie beach brands

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Original article by Rebecca Thurlow
The Australian – Page: 17 : 12-Jan-15

The acquisition of Mambo by Saban Brands is the latest example of an overseas group being attracted to an Australian clothing business with links to the nation’s beach and surfing culture. Previous ones were the purchases of Seafolly by LVMH Moet Hennessy Louis Vuitton and of Billabong International by a consortium of US-based hedge funds headed by Centerbridge Partners. Saban’s manager of strategic business development, Dan Castle, says Mambo’s irreverent design philosophy will be largely retained

CORPORATES
MAMBO, SABAN CAPITAL GROUP INCORPORATED, BILLABONG INTERNATIONAL LIMITED – ASX BBG, SEAFOLLY PTY LTD, CENTERBRIDGE PARTNERS LP, LVMH MOET HENNESSY LOUIS VUITTON SA, QUIKSILVER INCORPORATED, BONDS INDUSTRIES LIMITED, PACIFIC BRANDS LIMITED – ASX PBG, SPEEDO AUSTRALIA PTY LTD, BRAND FINANCE (AUSTRALIA) PTY LTD, NEW YORK STOCK EXCHANGE