INVESTMENTS

Goodman gets big tick

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Original article by Sue Mitchell, Sarah Thompson
The Australian Financial Review – Page: 19 : 17-Feb-15

Goodman Fielder shareholders will vote on a proposed $A1.3bn takeover bid by Wilmar International and First Pacific on 26 February 2015. Australia’s Foreign Investment Review Board approved the deal in late 2014, and the Chinese Government gave the green light on 16 February. The offer of $A0.675 per share also requires approval in New Zealand. Hedge funds bought about 160 million of the target’s shares in early February, and stand to make a healthy profit from the transaction

CORPORATES
GOODMAN FIELDER LIMITED – ASX GFF, WILMAR INTERNATIONAL LIMITED, FIRST PACIFIC COMPANY LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, CHINA. MINISTRY OF COMMERCE, NEW ZEALAND. OVERSEAS INVESTMENT COMMISSION, ELLERSTON CAPITAL PTY LTD, DEUTSCHE BANK AG, AUSTRALIAN SHAREHOLDERS’ ASSOCIATION

Foreign property buyers face stiff fees amid crackdown

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Original article by Joanna Heath
The Australian Financial Review – Page: 3 : 10-Feb-15

The Treasury is investigating a number of cases of suspected illegal residential property acquisitions in Australia. A parliamentary inquiry into the matter issued a report in November 2014 which contains 12 recommendations. The committee recommended the introduction of an administrative fee for foreign buyers of between $A500 and $A1,500 to fund the compliance work of the Foreign Investment Review Board and the Treasury

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, AUSTRALIAN LABOR PARTY

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