MERGERS AND ACQUISITIONS – AUSTRALIA

Glencore tilts at Rio expansion

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Original article by Amanda Saunders
The Australian Financial Review – Page: 1 & 11 : 8-Oct-14

Takeover speculation prompted a rally in the Australian-listed shares of Rio Tinto on 7 October 2014, with the stock rising 4.3 per cent to $A60.07. The resources group rebuffed a takeover approach from Glencore in August, and has indicated that it is not holding any merger talks with the commodities trader and miner. However, Glencore CEO Ivan Glasenberg is believed to be keen to pursue a merger with Rio Tinto

CORPORATES
RIO TINTO LIMITED – ASX RIO, GLENCORE PLC, XSTRATA AG, BHP BILLITON LIMITED – ASX BHP, LONDON STOCK EXCHANGE, UBS HOLDINGS PTY LTD, ALUMINIUM CORPORATION OF CHINA LIMITED

Deals get harder for PE raiders

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Original article by Bridget Carter
The Australian – Page: 18 : 30-Sep-14

Australian Private Equity & Venture Capital Association CEO Yasser El-Ansary says access to funding for major acquisition deals has become more difficult to arrange in the private equity sector. He believes that instead of large-scale takeovers, the new trend will be purchases of non-core operations being divested by listed groups. The comments come as Treasury Wine Estates has rebuffed competing offers by Kohlberg Kravis Roberts and Rhone Capital and by TPG Capital

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE, KOHLBERG KRAVIS ROBERTS AND COMPANY, RHONE CAPITAL LLC, TPG CAPITAL LP, KKR AND COMPANY LP, AUSTRALIAN PRIVATE EQUITY AND VENTURE CAPITAL ASSOCIATION LIMITED, SAI GLOBAL LIMITED – ASX SAI, WOOLWORTHS LIMITED – ASX WOW, DICK SMITH HOLDINGS LIMITED – ASX DSH, ASX LIMITED – ASX ASX, ANCHORAGE CAPITAL PARTNERS PTY LTD, UGL LIMITED – ASX UGL, DTZ AUSTRALIA PTY LTD, BAIN CAPITAL LLC, THE BLACKSTONE GROUP LP, PACIFIC EQUITY PARTNERS PTY LTD, ORICA LIMITED – ASX ORI, ARMYTAGE PRIVATE LIMITED

KKR tipped to win Treasury Wine

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Original article by Simon Evans, Sarah Thompson
The Australian Financial Review – Page: 1 & 11 : 29-Sep-14

Competing, revised takeover offers were lodged on 26 September 2014 for Australian-listed Treasury Wine Estates (TWE). It is believed that the directors will now recommend acceptance of the offer received from the consortium of Kohlberg Kravis Roberts (KKR) and Rhone Capital, rather than that of rival US-based private equity firm TPG Capital. The KKR bid is worth around $A5.20 a share. TWE’s earnings are being boosted by the recent decline in the Australian dollar

CORPORATES
TREASURY WINE ESTATES LIMITED – ASX TWE, KKR AND COMPANY LP, KOHLBERG KRAVIS ROBERTS AND COMPANY, RHONE CAPITAL LLC, TPG CAPITAL LP, PENFOLDS WINES PTY LTD, WOLF BLASS WINES PTY LTD, DELOITTE TOUCHE TOHMATSU LIMITED, CITIGROUP PTY LTD, GOLDMAN SACHS AUSTRALIA PTY LTD

ASX buys stake in e-trading provider

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Original article by Mitchell Bingemann
The Australian – Page: 23 : 19-Sep-14

The Australian Securities Exchange has paid $A65 million for a 49 per cent in Yieldbroker, a specialist electronic markets company. The acquisition will strengthen the ASX’s derivatives trading business. Twelve banks have invested in Yieldbroker, which was founded in 1999. It operates electronic markets for trading more than 800 Australian and New Zealand debt securities and interest rate derivatives

CORPORATES
ASX LIMITED – ASX ASX, YIELDBROKER PTY LTD, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, CITI AUSTRALIA PTY LTD, DEUTSCHE BANK AG, JP MORGAN AUSTRALIA LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, ROYAL BANK OF CANADA, ROYAL BANK OF SCOTLAND GROUP PLC, TORONTO DOMINION AUSTRALIA LIMITED, UBS HOLDINGS PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC

Rush for exits belies optimism

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Original article by Vesna Poljak, Max Mason
The Australian Financial Review – Page: 17 & 24 : 17-Sep-14

Fund managers are cautious about the strong activity in the Australian sharemarket. In the third quarter of 2014, IPOs have reached a record $US2.4 billion. Private equity firms are also exiting as escrow periods expire. Debt capital market activity reached $US99 billion between 1 January and 15 September, while merger and acquisition deals are worth $US8.5 billion. Fund managers said that private equity firms are taking the opportunity to exit in a strong market, but investors may be becoming complacent

CORPORATES
UNITED STATES. FEDERAL RESERVE BOARD, HEALTHSCOPE LIMITED – ASX HSO, VEDA GROUP LIMITED – ASX VED, DICK SMITH HOLDINGS LIMITED – ASX DSH, ANCHORAGE CAPITAL PARTNERS PTY LTD, DEALOGIC (AUSTRALIA) PTY LTD, INVESTORS MUTUAL LIMITED, AUSBIL DEXIA LIMITED, WAVESTONE CAPITAL PTY LTD, MYER HOLDINGS LIMITED – ASX MYR, GOLDMAN SACHS AUSTRALIA PTY LTD

Carsales.com looks at iCar Asia takeover

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Original article by Gretchen Friemann
The Australian Financial Review – Page: 26 : 11-Sep-14

Australian-listed Carsales.com currently holds a 22.9 per cent stake in iCar Asia. Rev Asia Berhad’s decision to offload its 27.2 per cent holding in iCar has prompted speculation that Carsales.com could launch a bid for control of the business. Carsales.com is keen to expand its international presence due to its limited growth opportunities in Australia, where it is the leading player in the automotive classified advertising sector

CORPORATES
CARSALES.COM LIMITED – ASX CRZ, ICAR ASIA LIMITED – ASX ICQ, REV ASIA BERHAD, CATCHA MEDIA BERHAD, CATCHA GROUP, IPROPERTY GROUP LIMITED – ASX IPP, REA GROUP LIMITED – ASX REA, SEEK LIMITED – ASX SEK, JOBSTREET CORPORATION BERHAD, ZHAOPIN LIMITED

Carsales.com looks at iCar Asia takeover

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Original article by Gretchen Friemann
The Australian Financial Review – Page: 26 : 11-Sep-14

Australian-listed Carsales.com currently holds a 22.9 per cent stake in iCar Asia. Rev Asia Berhad’s decision to offload its 27.2 per cent holding in iCar has prompted speculation that Carsales.com could launch a bid for control of the business. Carsales.com is keen to expand its international presence due to its limited growth opportunities in Australia, where it is the leading player in the automotive classified advertising sector

CORPORATES
CARSALES.COM LIMITED – ASX CRZ, ICAR ASIA LIMITED – ASX ICQ, REV ASIA BERHAD, CATCHA MEDIA BERHAD, CATCHA GROUP, IPROPERTY GROUP LIMITED – ASX IPP, REA GROUP LIMITED – ASX REA, SEEK LIMITED – ASX SEK, JOBSTREET CORPORATION BERHAD, ZHAOPIN LIMITED

Carsales.com looks at iCar Asia takeover

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Original article by Gretchen Friemann
The Australian Financial Review – Page: 26 : 11-Sep-14

Australian-listed Carsales.com currently holds a 22.9 per cent stake in iCar Asia. Rev Asia Berhad’s decision to offload its 27.2 per cent holding in iCar has prompted speculation that Carsales.com could launch a bid for control of the business. Carsales.com is keen to expand its international presence due to its limited growth opportunities in Australia, where it is the leading player in the automotive classified advertising sector

CORPORATES
CARSALES.COM LIMITED – ASX CRZ, ICAR ASIA LIMITED – ASX ICQ, REV ASIA BERHAD, CATCHA MEDIA BERHAD, CATCHA GROUP, IPROPERTY GROUP LIMITED – ASX IPP, REA GROUP LIMITED – ASX REA, SEEK LIMITED – ASX SEK, JOBSTREET CORPORATION BERHAD, ZHAOPIN LIMITED

Brambles invests $556m in UK firm

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Original article by Richard Gluyas
The Australian – Page: 26 : 10-Sep-14

Australian-listed logistics group Brambles has increased its presence in the UK with the acquisition of Ferguson Group for Stg320m ($A556m). Ferguson specialises in the supply of shipping containers to the offshore oil and gas sector, and boasted revenue of Stg56m and EBITDA of Stg30m in 2013. The acquisition will be funded entirely via debt

CORPORATES
BRAMBLES LIMITED – ASX BXB, FERGUSON GROUP LIMITED

Rinehart in secret talks on Fairfax

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Original article by Sharri Markson
The Australian – Page: 19 : 10-Sep-14

A spokesman for mining magnate Gina Rinehart has downplayed speculation that she is planning to make a takeover bid for Fairfax Media. Rinehart’s Hancock Prospecting holds a 14.99 per cent stake in the media group, and it has been revealed that she held talks with Matt Handbury regarding a bid for Fairfax in 2012. Handbury sold Murdoch Magazines in 2004 and Murdoch Books in 2012

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, HANCOCK PROSPECTING PTY LTD, MURDOCH MAGAZINES PTY LTD, MURDOCH BOOKS PTY LTD, SEVEN NETWORK LIMITED, SEVEN WEST MEDIA LIMITED – ASX SWM, ALLEN AND UNWIN PTY LTD