SALE OF BUSINESS ENTERPRISES – AUSTRALIA

Woolies’ $2b Masters sale

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Original article by Sue Mitchell
The Australian Financial Review – Page: 1 : 19-Jan-16

Woolworths has decided to exit home-improvement market by selling or winding up the Masters chain. Investors welcomed the decision of the board, with Woolworths shares rising 4.3 per cent to $A23.65 on 18 January 2016. Masters generated operating losses of $A245 million to $A300 million a year.

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, LOWE’S COMPANIES INCORPORATED, COLES GROUP LIMITED, KMART AUSTRALIA LIMITED, ALDI STORES SUPERMARKETS PTY LTD, BIG W DISCOUNT STORES, PERPETUAL INVESTMENTS, MOODY’S INVESTORS SERVICE INCORPORATED, STANDARD AND POOR’S CORPORATION, BUNNINGS GROUP LIMITED, WESFARMERS LIMITED – ASX WES, BIG W DISCOUNT STORES, HOMEBASE, HOME TIMBER AND HARDWARE, DEUTSCHE BANK AG, MITRE 10 LIMITED

ACCC nods at a Macquarie-Esanda tilt

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Original article by Joyce Moullakis
The Australian Financial Review – Page: 16 : 18-Sep-15

The Australian Competition & Consumer Commission has ruled that there would be little impact on competition if Macquarie Group acquires the Esanda dealer finance business from ANZ Bank. Macquarie is regarded as the frontrunner to buy the Esanda business, which is tipped to change hands for up to $A1.5bn. Analysts say Macquarie could opt for a capital raising to help finance the deal if its bid succeeds.

CORPORATES
MACQUARIE GROUP LIMITED – ASX MQG, ESANDA FINANCE CORPORATION LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, SHAW AND PARTNERS LIMITED, CLSA AUSTRALIA PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, ST GEORGE BANK LIMITED, TOYOTA FINANCE AUSTRALIA LIMITED, NISSAN FINANCE

ANZ eyes Esanda sale to raise $1.5b

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Original article by Clancy Yeates, James Eyers
The Australian Financial Review – Page: 19 : 22-Jul-15

The ANZ Bank aims to offload its Esanda personal finance business by mid-2016, while the banking major has also flagged the sale of some Asian assets. The sale of Esanda is likely to be worth about $A1.5bn, which will significantly boost ANZ’s capital ratio ahead of the introduction of new capital requirements in July 2016. It is estimated that ANZ will need to lift its capital by around $A2.3bn in total.

CORPORATES
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, ESANDA FINANCE CORPORATION LIMITED, PT PANIN BANK, JP MORGAN AUSTRALIA LIMITED, GOLDMAN SACHS AUSTRALIA GROUP HOLDINGS PTY LTD, CITIGROUP PTY LTD, UBS HOLDINGS PTY LTD, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, BANK FOR INTERNATIONAL SETTLEMENTS. BASEL COMMITTEE ON BANKING SUPERVISION, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC

Woolworths serves up Thomas Dux

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Original article by Sue Mitchell
The Australian Financial Review – Page: 13 & 19 : 30-Jun-15

Australian-listed Woolworths has declined to comment on reports that it is seeking a buyer for its chain of Thomas Dux stores. However, it is believed to be aiming for a sale price of $A10m-$A20m for the grocery chain, which specialises on gourmet foods and comprises 10 outlets. Woolworths Holdings is seen as a possible buyer for the chain, although the South Africa-based group has denied that it has made overtures regarding Thomas Dux.

CORPORATES
WOOLWORTHS LIMITED – ASX WOW, THOMAS DUX GROCER, WOOLWORTHS HOLDINGS LIMITED, DAVID JONES LIMITED, ABOUT LIFE PTY LTD, JONES THE GROCER, L CAPITAL ASIA, LVMH MOET HENNESSY LOUIS VUITTON SA, BRIGHT FOOD GROUP COMPANY LIMITED, MANASSEN FOODS AUSTRALIA PTY LTD, SIMON JOHNSON PURVEYOR OF QUALITY FOODS PTY LTD, MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, BIG W DISCOUNT STORES

Burson eyes Metcash auto

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Original article by Simon Evans
The Australian Financial Review – Page: 17 : 1-Jun-15

Australian-listed Burson Group aims to open four automotive parts stores in Western Australia in coming months, with the first earmarked for the Perth suburb of Malaga. Meanwhile, CEO Darryl Abotomey says the company is a potential buyer of Metcash’s automotive division, but he adds that it would only do so if the transaction made "economic sense". Metcash flagged the sale of the business in May 2015.

CORPORATES
BURSON GROUP LIMITED – ASX BAP, METCASH LIMITED – ASX MTS, AUTOBARN PTY LTD, MIDAS MUFFLERS, AUTOMOTIVE BRANDS GROUP PTY LTD, ULTRA TUNE AUSTRALIA PTY LTD, KMART TYRE AND AUTO, AUTOMOTIVE HOLDINGS GROUP LIMITED – ASX AHG, COVS PARTS PTY LTD, GENUINE PARTS COMPANY, REPCO CORPORATION LIMITED

FIRB clears China Communications acquisition of John Holland

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Original article by Jenny Wiggins
The Australian Financial Review – Page: 20 : 9-Apr-15

Leighton Holdings’ sale of defence contractor John Holland to China Communications Construction Company has been cleared by the Foreign Investment Review Board. Federal Treasury Joe Hockey says the $A1bn deal does not raise any national interest concerns. John Holland is estimated to have undertaken some $A470m worth of construction contracts for the Department of Defence in 2014

CORPORATES
LEIGHTON HOLDINGS LIMITED – ASX LEI, JOHN HOLLAND PTY LTD, CHINA COMMUNICATIONS CONSTRUCTION GROUP LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF DEFENCE, THE STOCK EXCHANGE OF HONG KONG LIMITED, WORLD BANK, CHINA ROAD AND BRIDGE CORPORATION, AUSTRALIAN SECURITY INTELLIGENCE ORGANISATION

KKR snares GE Capital arm for $8.2b

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Original article by Sarah Thompson, Sally Patten, Anthony Macdonald
The Australian Financial Review – Page: 13 : 16-Mar-15

The Australasian consumer finance division of GE Capital will be sold to KKR & Company, Deutsche Bank and Varde Partners. The consortium will pay $A8.2bn for the business, whose operations include credit cards, personal loans and sales finance. The KKR-led consortium was one of four groups that made binding bids for the business, which GE put on the market in late 2014

CORPORATES
GE CAPITAL CORPORATION, KKR AND COMPANY LP, KOHLBERG KRAVIS ROBERTS AND COMPANY, DEUTSCHE BANK AG, VARDE PARTNERS INCORPORATED, TPG CAPITAL LP, ONTARIO TEACHERS’ PENSION PLAN, MACQUARIE GROUP LIMITED – ASX MQG, THE BLACKSTONE GROUP LP, LIBERTY FINANCIAL PTY LTD, GOVERNMENT OF SINGAPORE INVESTMENT CORPORATION PTE LTD, APOLLO GLOBAL MANAGEMENT LLC, JC FLOWERS AND COMPANY LLC, PEPPER AUSTRALIA, QATAR INVESTMENT AUTHORITY, CREDIT SUISSE AG, MORGAN STANLEY AND COMPANY INCORPORATED, BANK OF AMERICA CORPORATION, MERRILL LYNCH AND COMPANY INCORPORATED, CITIGROUP INCORPORATED, MOELIS AND COMPANY

Private equity bosses tip rosier times ahead

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Original article by Sally Rose, Joyce Moullakis
The Australian Financial Review – Page: 26 : 5-Mar-15

Pacific Equity Partners (PEP) gained $A4.5bn from divesting businesses via IPOs and trade sales in 2013 and 2014. International buyers accounted for most of the firm’s trade sales, and Nathanial Thomson of Crescent Capital expects the trend for offshore buyers to purchase Australian businesses to continue. Meanwhile, PEP MD Tim Sims is upbeat about the outlook for Australia’s business sector, and says offshore investors should not be deterred by data showing that the economy is slowing

CORPORATES
PACIFIC EQUITY PARTNERS PTY LTD, CRESCENT CAPITAL PARTNERS LIMITED, XTRALIS PTY LTD, AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA, PITCHER PARTNERS CORPORATE ADVISORY PTY LTD, KING AND WOOD MALLESONS

Santos in ‘active’ talks on CSG project deal

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 20 : 22-Jan-15

Santos plans to sell roughly 30 per cent of its proposed $A2 billion coal seam gas project in Narrabri, New South Wales. The Australian-listed energy group has an 80 per cent stake in the contentious development. It is holding talks with gas ­buyers, manufacturers and global companies. Santos’s vice president of eastern Australia, James Baulderstone, says the project will not proceed without more investors, but the slump in the crude oil price presents "challenges" in the negotiations

CORPORATES
SANTOS LIMITED – ASX STO, ENERGYAUSTRALIA PTY LTD

Man to Man closes 20 stores, sheds 100 staff

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Original article by Leo Shanahan
The Australian – Page: 16 : 9-Jan-15

Ferrier Hodgson’s Brendan Richards is hopeful that a buyer will emerge for failed menswear retailer Man to Man, with indicative offers due by 9 January 2015. The retail chain will continue to operate 62 stores following the closure of 20 outlets, which will result in the loss of nearly 100 jobs. Man to Man has debts of $A28m, and went into voluntary administration in late 2014

CORPORATES
MAN TO MAN FASHION MENSWEAR, FERRIER HODGSON AND COMPANY, DEUTSCHE BANK AG