PRIVATE EQUITY

Private equity investors circle over Virgin

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Original article by Phillip Coorey, Jemima Whyte
The Australian Financial Review – Page: Online : 17-Apr-20

Virgin Australia has asked the federal government for a $1.4 billion loan to help it survive the COVID-19 induced shutdown of the aviation sector, and it has threatened to put itself into voluntary administration if government help is not forthcoming. However, pressure on the government to provide Virgin with a loan may have eased, due to reports that at least two private consortia are looking to take over the airline; one of the two is understood to be an investment bank partnered with an Australian infrastructure investor, while the other is believed to be a private equity entity in partnership with a "strategic airline investor".

CORPORATES
VIRGIN AUSTRALIA HOLDINGS LIMITED – ASX VAH, QANTAS AIRWAYS LIMITED – ASX QAN

Japan tipped to lead inbound M&A

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Original article by Lucas Baird
The Australian Financial Review – Page: 14 : 6-Jan-20

Alex Cartel of Deutsche Bank expects Japanese companies to pursue more takeover deals in Australia during 2020, following bids for Carlton & United Breweries and DuluxGroup in 2019. He notes that Japan has replaced China as a key driver of inbound mergers and acquisitions deals in the last several years. Simon Ranson of JP Morgan adds that offshore private equity firms are cashed up, noting that factors such as the low Australian dollar will make the nation attractive to them.

CORPORATES
DEUTSCHE BANK AG, JP MORGAN AUSTRALIA LIMITED, CARLTON AND UNITED BREWERIES, DULUXGROUP LIMITED, ASAHI GROUP, NIPPON PAINT, HERBERT SMITH FREEHILLS PTY LTD, BELLAMY’S AUSTRALIA LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

BHP left holding Chilean mine after deal collapses

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Original article by James Thomson
The Australian Financial Review – Page: 23 : 14-Dec-18

Private equity firm EMR Capital will not proceed with a deal to buy BHP Group’s Cerro Colorado copper mine in Chile. EMR has advised that the $US320m ($443m) transaction has been abandoned due to problems in meeting its deadline to secure financing. The deal had been announced in June; EMR recently acquired a majority stake in a copper mine in Zambia.

CORPORATES
BHP GROUP LIMITED – ASX BHP, EMR CAPITAL PTY LTD, RIO TINTO LIMITED – ASX RIO, PT ADARO ENERGY TBK