JOINT VENTURES – AUSTRALIA

Rinehart to milk China’s dairy fix

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Original article by Rick Wallace
The Australian – Page: 9 : 14-Nov-14

The new Hope Dairies joint venture is being launched by government enterprise China National Machinery Industry Corporation and Hancock Prospecting, the main vehicle of Australian mining heiress Gina Rinehart. The $A500m business will seek to cash in on the recently negotiated free trade agreement between Australia and China, by exporting powdered infant formula. Rinehart has also diversified from iron ore into beef cattle, with investments in Western Australia

CORPORATES
HANCOCK PROSPECTING PTY LTD, HOPE DAIRIES PTY LTD, CHINA NATIONAL MACHINERY INDUSTRY CORPORATION, CUBBIE STATION, QUEENSLAND. DEPT OF THE PREMIER AND CABINET, BEIJING AGRICULTURAL INVESTMENT FUND

Stevens slams bank holdouts

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Original article by Richard Gluyas
The Australian – Page: 21 : 24-Oct-14

A new payments platform enabling real-time processing of transactions is supposed to be rolled out with the help of the Australian banking sector by late 2016. However Westpac Banking and others have not yet approved the incorporation of a joint venture for the project, drawing sharp criticism from Reserve Bank of Australia governor Glenn Stevens. He told the 2014 congress of the Australian Payments Clearing Association that the central bank "would be duty-bound to consider a regulatory ­approach" if no progress can be achieved

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC, RESERVE BANK OF AUSTRALIA, AUSTRALIAN PAYMENTS CLEARING ASSOCIATION LIMITED, MORTGAGE CHOICE LIMITED – ASX MOC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Odds against joint ventures

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 19 : 5-Aug-14

A survey of CEOs by PricewaterhouseCoopers (PwC) shows that 43 per cent of the Australian respondents intend to establish a strategic alliance or joint venture in 2014, compared with 28 per cent in 2013. Mike Sum of PwC notes that strategic alliances are becoming more popular in the business sector. However, he notes that such alliances often fail during the implementation stage

CORPORATES
PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, SNP SECURITY SERVICES PTY LTD, WOOLWORTHS LIMITED – ASX WOW, VISA INTERNATIONAL, COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES, GE CAPITAL AUSTRALIA, AURIZON HOLDINGS LIMITED – ASX AZJ, SHANGHAI BAOSTEEL GROUP CORPORATION, AQUILA RESOURCES LIMITED – ASX AQA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, WOOLWORTHS EZY BANKING, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, BBY LIMITED, VIRGIN MONEY (AUSTRALIA) PTY LTD, BANK OF QUEENSLAND LIMITED – ASX BOQ, WESTPAC BANKING CORPORATION – ASX WBC

BHP to exit manganese in ‘four pillars’ strategy

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Original article by Sarah-Jane Tasker
The Australian – Page: 18 : 25-Jul-14

BHP Billiton has in recent times signalled plans to focus on iron ore, copper, petroleum and coking coal. This means aluminium, coal and nickel operations are likely to be jettisoned, and there is now also speculation that BHP and fellow resources group Anglo American are negotiating on an exit from their manganese joint venture in South Africa and Australia. BHP holds the majority stake of 60% in the three mines and two processing facilities, including an asset on Groote Eylandt in the Northern Territory

CORPORATES
BHP BILLITON LIMITED – ASX BHP|ANGLO AMERICAN PLC|BARRICK GOLD CORPORATION|X2 RESOURCES PARTNERS LP|GLENCORE XSTRATA PLC

Coles to play banks at own game

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Original article by Jared Lynch
The Australian Financial Review – Page: 19 : 15-Jul-14

Coles will expand its product offerings in the financial services sector, with the introduction of personal loans. The grocery retailer expects to receive regulatory approval by the end of 2014, but Coles Finance director Rob Scott has declined to comment on the possibility that Coles could also seek a banking licence. The new products will be offered in partnership with GE Capital

CORPORATES
COLES GROUP LIMITED, WESFARMERS LIMITED – ASX WES, GE CAPITAL AUSTRALIA, TESCO PLC, J SAINSBURY PLC, MARKS AND SPENCER PLC, MASTERCARD AUSTRALIA LIMITED, VISA INTERNATIONAL, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

BGC, Metricon team up

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Original article by Nick Lenaghan
The Australian Financial Review – Page: 42 : 26-Jun-14

The market leader in the Western Australian residential construction sector is BGC, a group that also has building materials assets. It has been the largest home builder nationwide as well for most of the past 10 years, only occasionally surpassed by Metricon. The number of new home starts in 2013 was 3,400 for BGC and 2,800 for Metricon. The two have now formed a new joint venture named Homefirst, which will initially be active in the Melbourne market’s budget segment

CORPORATES
HOMEFIRST, BGC (AUSTRALIA) PTY LTD, METRICON HOMES