INVESTMENTS

Finance, unis big winners

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Original article by Jacob Greber, Fleur Anderson, Greg Earl, Matthew Cranston
The Australian Financial Review – Page: 1 & 4 : 9-Jul-14

A new economic partnership agreement (EPA) has been struck between Australia and Japan. Apart from the automobile and agricultural sectors in Japan and Australia respectively, the main winners will be sections of the Australian services industry. The Japanese Government will open this area to Australian educational, legal and financial services providers. Business leader Sir Rod Eddington has welcomed the focus on services. He also warned that investment by Japanese parties will require a stable political and regulatory environment in Australia, but dismissed fears the deal may harm the relationship with China

CORPORATES
AUSTRALIAN SERVICES ROUNDTABLE, WORLD TRADE ORGANIZATION, RIO TINTO LIMITED – ASX RIO, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, INFRASTRUCTURE AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, FINANCIAL SERVICES COUNCIL

Aristocrat scores jackpot in pokies deal

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Original article by Andrew White
The Australian – Page: 21 : 8-Jul-14

Australian-listed poker machines maker Aristocrat Leisure has acquired US company Video Gaming Technologies for $A1.3 billion. The purchase is being funded by an equity raising and debt, with $A375 million of shares offered to institutions at $A5.12 and $US1.3 billion raised via loans in the US. Aristocrat CEO Jamie Odell said on 7 July 2014 that the program of acquiring digital gaming companies will be continued

CORPORATES
ARISTOCRAT LEISURE LIMITED – ASX ALL, VIDEO GAMING TECHNOLOGIES INCORPORATED, OPTIONSXPRESS AUSTRALIA PTY LTD, BALLY ENTERTAINMENT CORPORATION, SHUFFLE MASTER AUSTRALIA PTY LTD, SCIENTIFIC GAMES CORPORATION, WMS GAMING INCORPORATED

Virgin’s new directors focus on profitability

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Original article by Damon Kitney
The Australian – Page: 19 : 8-Jul-14

The board of Virgin Australia has been joined by three new directors, representing foreign carriers that hold major stakes in the Australian-listed airline. They are Etihad Airways CEO James Hogan, Air New Zealand (NZ) CEO Christopher Luxon and Singapore Airlines CEO Goh Choon Phong. Hogan said on 7 July 2014 that he and his counterparts at Singapore Airlines and Air NZ will focus on Virgin Australia’s return to profitability

CORPORATES
VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, AIR NEW ZEALAND LIMITED – ASX AIZ, ETIHAD AIRWAYS, SINGAPORE AIRLINES LIMITED, VIRGIN GROUP LIMITED, TIGER AIRWAYS AUSTRALIA PTY LTD, TIGER AVIATION PTE LTD, MANCHESTER CITY FOOTBALL CLUB, MELBOURNE CITY FOOTBALL CLUB

Visit sowed seed for Olam grain purchase

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Original article by Rick Wallace
The Australian – Page: 18 : 7-Jul-14

Mitsubishi Corporation’s interest in Australia’s grain market stemmed from a visit to a grain terminal by chairman Yorihiko Kojima in 2008. The Japanese company has acquired Olam International’s Australian handling infrastructure for nearly $A70 million. Kojima said that his visit revealed the financial and technological advancement of the Australian agriculture sector. Kojima is part of a delegation arriving in Australia on 7 July 2014

CORPORATES
MITSUBISHI CORPORATION, OLAM INTERNATIONAL LIMITED, SUMITOMO CORPORATION, EMERALD GRAIN PTY LTD, MITSUI AND COMPANY LIMITED, PLUM GROVE PTY LTD, TRANS-PACIFIC PARTNERSHIP

Goodman agrees cut-price takeover offer

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Original article by Blair Speedy
The Australian – Page: 19/25 : 3-Jul-14

The board of Goodman Fielder has unanimously recommended that shareholders vote in favour of a reduced takeover bid for the Australian-listed food manufacturer. Goodman chairman Steve Gregg said on 2 July 2014 that the offer was still attractive even after foreign suitors Wilmar and First Pacific reduced it by $A0.025 a share to $A0.675

CORPORATES
GOODMAN FIELDER LIMITED – ASX GFF, WILMAR INTERNATIONAL LIMITED, FIRST PACIFIC COMPANY LIMITED, ELLERSTON CAPITAL PTY LTD, PERPETUAL LIMITED – ASX PPT, DEUTSCHE BANK AG

China offers chance to take stake in banks

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Original article by Angus Grigg, Lisa Murray
The Australian Financial Review – Page: 8 : 30-Jun-14

China is offering Australian banks the opportunity to invest in its five largest banks. During a visit to China in late June 2014, Federal Treasurer Joe Hockey was informed that the Chinese Government planned to further sell down its holdings in the five lenders. They are Industrial & Commercial Bank of China, Bank of China, Bank of Communications, China Construction Bank and Agricultural Bank of China

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, INDUSTRIAL AND COMMERCIAL BANK OF CHINA, BANK OF CHINA GROUP, BANK OF COMMUNICATIONS, CHINA CONSTRUCTION BANK, AGRICULTURAL BANK OF CHINA, CHINA. NATIONAL DEVELOPMENT REFORM COMMISSION, CHINA. MINISTRY OF FINANCE, THE GOLDMAN SACHS GROUP INCORPORATED, PEKING UNIVERSITY, CHINA CENTRE FOR ECONOMIC RESEARCH, UBS AG, ROYAL BANK OF SCOTLAND GROUP PLC, CITIGROUP INCORPORATED, BANK OF AMERICA CORPORATION, KING AND WOOD MALLESONS, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, CHINA BANKING REGULATORY COMMISSION

China’s Baosteel takes control of Aquila Resources

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Original article by Sarah-Jane Tasker
The Australian – Page: 19-20 : 26-Jun-14

The takeover of Aquila Resources by Baosteel and Aurizon will proceed after one of the co-founders supported the $A1.4 billion deal. Charles Bass has decided to sell his 10.7 per cent stake in the absence of a superior offer. Co-founder Tony Poli has already committed his holding of nearly 30 per cent. With its own stake of 20 per cent, Baosteel now has an interest of nearly 60 per cent. Poli has advised shareholders to wait until 3 July 2014 in case there is a superior offer

CORPORATES
AQUILA RESOURCES LIMITED – ASX AQA, AURIZON HOLDINGS LIMITED – ASX AZJ, SHANGHAI BAOSTEEL GROUP CORPORATION, MINERAL RESOURCES LIMITED – ASX MIN

$200m peace offer for Lew

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Original article by Sue Mitchell, Sarah Thompson
The Australian Financial Review – Page: 1-Oct : 25-Jun-14

Australian retailing identity Solomon Lew in 1997 acquired a blocking stake of 11.8% in Country Road. In 2014, he has duplicated the move by building a holding of 9.9% in David Jones (DJs). The takeover suitor in both cases is South Africa’s Woolworths, which has now been forced by Lew’s tactics to buy him out of Country Road and to offer $A17 a share. This is an increase of nearly 400% from the on-market price in early 2014. In exchange Woolworths will also be able to move to full ownership of DJs. Insiders say Woolworths had been keen to take control of Country Road in any case

CORPORATES
COUNTRY ROAD LIMITED – ASX CTY, DAVID JONES LIMITED – ASX DJS, WOOLWORTHS HOLDINGS LIMITED, PREMIER INVESTMENTS LIMITED – ASX PMV, NM ROTHSCHILD AND SONS (AUSTRALIA) LIMITED, GILBERT AND TOBIN LAWYERS, GREENHILL AND COMPANY, ARNOLD BLOCH LEIBLER, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. TAKEOVERS PANEL, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN RETAIL INVESTMENTS PTY LTD, MIMCO PTY LTD, WITCHERY FASHIONS PTY LTD, MYER HOLDINGS LIMITED – ASX MYR, TRENERY

Vote on hold as Lew lifts DJs stake

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Original article by Blair Speedy
The Australian – Page: 21 : 20-Jun-14

Australian-listed department stores chain David Jones (DJs) has informed the market that it has asked the Federal Court to delay the stockholder vote on the friendly takeover bid by Woolworths. The deal worth $A2.15bn with the South African suitor has been placed into jeopardy by revelations that retailing sector identity Solomon Lew now holds 9.89% of the target. There are fears his goal is to build a blocking stake, to force Woolworths into buying him out of Country Road. He owns 11.8% of that business and Woolworths close to 88%. The DJs investor ballot will now be held on 14 July 2014 rather than 30 June

CORPORATES
DAVID JONES LIMITED – ASX DJS, COUNTRY ROAD LIMITED – ASX CTY, WOOLWORTHS HOLDINGS LIMITED, FEDERAL COURT OF AUSTRALIA, ASX LIMITED – ASX ASX, OWNERSHIP MATTERS PTY LTD, KING AND WOOD MALLESONS

Lew ups stake in DJs to 9.9pc

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Original article by Sue Mitchell
The Australian Financial Review – Page: 19/24 : 6/19/2014

The takeover worth $A2.2bn of Australian department stores chain David Jones (DJs) by South Africa’s Woolworths will need to be approved by DJs shareholders in a vote on 30 June 2014. However, a complication may have arisen under collateral benefits law, as retailing sector stalwart Solomon Lew has disclosed he now holds 9.9% of the target. While his motives are not clear, there is speculation he wants to push Woolworths into buying his 11.8% blocking stake in Country Road. Such a side deal would attract scrutiny by the Australian Securities & Investments Commission and the Takeovers Panel

CORPORATES
DAVID JONES LIMITED – ASX DJS, COUNTRY ROAD LIMITED – ASX CTY, WOOLWORTHS HOLDINGS LIMITED, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, AUSTRALIA. TAKEOVERS PANEL, AUSTRALIAN RETAIL INVESTMENTS PTY LTD, CORRS CHAMBERS WESTGARTH, GOLDMAN SACHS AUSTRALIA PTY LTD, BLACKROCK INCORPORATED, DEUTSCHE BANK AG, ALLAN GRAY AUSTRALIA PTY LTD, AUSBIL DEXIA LIMITED, PERPETUAL INVESTMENTS, PERPETUAL LIMITED – ASX PPT, PENGANA CAPITAL LIMITED, BT INVESTMENT MANAGEMENT LIMITED – ASX BTT