SALE OF BUSINESS ENTERPRISES – AUSTRALIA

Murdoch and Gordon may face multiple rivals for control of Ten

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Original article by Max Mason
The Australian Financial Review – Page: 3 : 27-Jun-17

There is speculation that the Commonwealth Bank could seek to have Ten Network placed in receivership in coming days. Meanwhile, Ten’s administrator Mark Korda has told the first creditors’ meeting that several local and offshore parties have expressed interest in buying or recapitalising Ten. CBS has been suggested as a possible buyer of Ten. Lachlan Murdoch and Bruce Gordon have been touted as likely buyers, but could not do so under existing media cross-ownership rules.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, KORDA MENTHA AND COLLEAGUES PTY LTD, CBS CORPORATION, ANCHORAGE CAPITAL PARTNERS PTY LTD, 21ST CENTURY FOX INCORPORATED, ENDEMOL SHINE AUSTRALIA PTY LTD, FREMANTLEMEDIA AUSTRALIA PTY LTD, METROWEATHER, STARCOM AUSTRALIA PTY LTD, CRICKET AUSTRALIA

Buyers sought for under-the-pump Ten

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Original article by Mitchell Bingemann
The Australian – Page: 19 : 22-Jun-17

Ten Network’s administrators have called for expressions of interest to buy or recapitalise the free-to-air broadcaster. An advertisement in national newspapers on 22 June notes that Ten boasts gross revenue of $A3bn. Ten’s administrators from KordaMentha anticipate a 60-day sales process, although they are also expected to seek parties to recapitalise the network. KordaMentha is likely to be subject to a conflict of interests probe given that it has also acted as an adviser to Ten.

CORPORATES
TEN NETWORK HOLDINGS LIMITED – ASX TEN, KORDA MENTHA AND COLLEAGUES PTY LTD, AUSTRALIAN RESTRUCTURING INSOLVENCY AND TURNAROUND ASSOCIATION, GILBERT AND TOBIN LAWYERS

Whyalla steel mill rescue a step closer

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Original article by Matt Chambers
The Australian – Page: 21 : 2-Jun-17

Administrator KordaMentha hopes to finalise the sale of steel producer and iron ore miner Arrium by the end of June. The two final bidders, GFG Alliance and a consortium headed by private equity firm Newlake Alliance, will seek approval from the Foreign Investment Review Board. GFG comprises Liberty House and SIMEC, which are controlled by British businessman Sanjeev Gupta. Arrium collapsed in April 2016 with debts of $A4bn.

CORPORATES
ARRIUM LIMITED – ASX ARI, KORDA MENTHA AND COLLEAGUES PTY LTD, GFG ALLIANCE, LIBERTY HOUSE GROUP, SIMEC GROUP LIMITED, NEWLAKE ALLIANCE, BHP BILLITON LIMITED – ASX BHP, BLUESCOPE STEEL LIMITED – ASX BSL, POSCO, ADANI MINING PTY LTD, THE BLACKSTONE GROUP LP, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

ANZ leads in the big four investing game

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Original article by Tony Boyd
The Australian Financial Review – Page: 40 : 4-Jan-17

The ANZ Banking Group is selling its 20 per cent stake in the Shanghai Rural Commercial Bank for $A1.8 billion. The transaction will have a positive effect on the bank’s common equity tier 1 capital ratio, raising it to the highest level among Australia’s big four banks. Shareholders have reasons to be satisfied. The bank is likely to increase its return on equity.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, SHANGHAI RURAL COMMERCIAL BANK, ESANDA FINANCE CORPORATION LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, DBS GROUP HOLDINGS LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

ANZ fires up Asia exit in $1.8b sale

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Original article by James Frost
The Australian Financial Review – Page: 1 : 4-Jan-17

ANZ Banking Group is retreating from Asia, with the latest transaction being the sale of its 20 per cent stake in Shanghai Rural Commercial Bank for $A1.8 billion. The stake is being acquired in two equal tranches by China COSCO Shipping Corporation and Shanghai Sino Poland Enterprise Management Development Corporation. The sale will result in a rise in ANZ’s tier one capital ratio from 9.6 per cent to 10 per cent.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, SHANGHAI RURAL COMMERCIAL BANK, ESANDA FINANCE CORPORATION LIMITED, MACQUARIE GROUP LIMITED – ASX MQG, DBS GROUP HOLDINGS LIMITED, CHINA COSCO SHIPPING CORPORATION, SHANGHAI SINO POLAND ENTERPRISE MANAGEMENT DEVELOPMENT CORPORATION, BANK OF TIANJIN COMPANY LIMITED, AMBANK BERHAD

Blogger Freedman puts Mamamia up for sale

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Original article by Jake Mitchell
The Australian – Page: 21 : 8-Dec-16

KPMG has been commissioned to find a buyer for the Mamamia Women’s Network, with a deal likely to be concluded in early 2017. The company was founded by former magazine editor Mia Freedman and is best known for publishing the Mamamia.com.au blog. Freedman opted to sell the business after being approached about a potential deal by an offshore party.

CORPORATES
MAMAMIA.COM.AU PTY LTD, MAMAMIA WOMEN’S NETWORK, KPMG AUSTRALIA PTY LTD, BAUER MEDIA AUSTRALIA PTY LTD, NINE NETWORK AUSTRALIA LIMITED

Good Guys sees earnings surge if IPO proceeds

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Original article by Sue Mitchell
The Australian Financial Review – Page: 17 : 24-May-16

Consumer electronics retailer The Good Guys has appointed three lead managers to handle a potential IPO, which is expected to raise up to $A900m. However, chairman Andrew Muir is retaining options such as a trade sale. The Good Guys boasts 100 stores, and Muir aims to complete the purchase of 56 joint venture stores by the end of 2015-16. The group has forecast pro forma EBITDA of $A85m for the financial year.

CORPORATES
THE GOOD GUYS, THE MUIR ELECTRICAL COMPANY PTY LTD, JJB SPORTS, STEINHOFF INTERNATIONAL HOLDINGS LIMITED, HARVEY NORMAN HOLDINGS LIMITED – ASX HVN, CREDIT SUISSE (AUSTRALIA) LIMITED, GOLDMAN SACHS AND PARTNERS AUSTRALIA PTY LTD, UBS HOLDINGS PTY LTD, BAIN CAPITAL LLC, TPG CAPITAL LP, KKR AND COMPANY LP

Arrium and its steelworks to go on block in late July

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Original article by Simon Evans
The Australian Financial Review – Page: 8 : 24-May-16

KordaMentha has indicated that a number of Australian and offshore groups have expressed interest in buying the assets of Arrium. KordaMentha, which was appointed as administrator of the failed steel producer and iron ore miner in mid-April 2016, will commence the formal sale process in July, with expectations that it will be completed by the end of the year.

CORPORATES
ARRIUM LIMITED – ASX ARI, KORDA MENTHA AND COLLEAGUES PTY LTD, MOLY-COP, ARGAND PARTNERS LLC, CERBERUS CAPITAL MANAGEMENT LP, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, GRANT THORNTON AUSTRALIA

Kidman ‘deal’ off election agenda

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Original article by Sue Neales
The Australian – Page: 1 & 2 : 20-Apr-16

Shanghai Pengxin, Shanghai CRED Real Estate and Australian Rural Capital are poised to acquire the S. Kidman & Company rural property empire, comprising nine cattle stations and 180,000 head of cattle. However, federal Treasurer Scott Morrison will defer a decision on whether to approve the sale until late July 2016, to ensure that it does not become an election issue. The two Chinese groups will have an 80 per cent stake in the Kidman business.

CORPORATES
S KIDMAN AND COMPANY PTY LTD, SHANGHAI PENGXIN GROUP COMPANY LIMITED, SHANGHAI CRED REAL ESTATE STOCK COMPANY LIMITED, AUSTRALIAN RURAL CAPITAL LIMITED – ASX ARC, AUSTRALIA. DEPT OF THE TREASURY, DAKANG AUSTRALIA HOLDINGS PTY LTD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Nation’s wealthy line up for slice of Kidman

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Original article by Sue Neales
The Australian – Page: 1 & 2 : 17-Mar-16

A decision on whether the sale of the S Kidman & Company rural property business to foreign buyers can proceed is likely in early April 2016. Three overseas consortiums were shortlisted to buy the Kidman assets, but it has been revealed that a number of potential Australian buyers have since been permitted to undertake due diligence. There have been suggestions that the decision was politically motivated, due to concerns about the sale of large landholdings to foreign interests.

CORPORATES
S KIDMAN AND COMPANY PTY LTD, ERNST AND YOUNG, SHANGHAI PENGXIN GROUP COMPANY LIMITED, GENIUS LINK ASSET MANAGEMENT GROUP, AUSTRALIAN COUNTRY CHOICE PTY LTD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIA. DEPT OF THE TREASURY, LINFOX PTY LTD, MOON LAKE INVESTMENTS PTY LTD, VAN DIEMEN’S LAND COMPANY, TASFOODS LIMITED – ASX TFL, KATHMANDU HOLDINGS LIMITED – ASX KMD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF AGRICULTURE AND WATER RESOURCES