Cork, Ireland-based consumer electronics distributor PCH International announced it has acquired Australian distribution company Conexus for an undisclosed amount to give its clients better access to the Australian and Asian markets.
Australia
China's Bright Food Group Ltd unit Manassen Foods could be the frontrunner in an acquisition contest for United Dairy Power, the biggest privately-owned milk supplier in Australia, according to a news report by the Business Spectator.
Bega Cheese Ltd., the largest shareholder in Warrnambool Cheese and Butter Co. Holdings, is reportedly negotiating with other firms including non-Australian investors on a possible sale of its 18.7% stake in Australia's oldest dairy firm.
As part of its goal to offload non-core assets, Australia-based food company Goodman Fielder had sold its biscuit business at a loss to Green's Foods in a deal valued at $17 million.
Australia's systemically important "Big Four" banks will be required to set aside an extra 1 percent of equity capital to protect against the kind of turmoil seen during the global financial crisis under new regulations announced on Monday.
International hedge funds are increasingly targetting troubled firms in Australia, from cotton or macadamia farms to cattle stations and vineyards, expecting a nascent distressed debt market to generate double-digit returns.
Australia's treasurer Joe Hockey has given a conditional approval for State Grid Corporation of China's acquisition of stakes in Australian electricity and gas distribution assets.
Australia-based mobile device provider Telstra Corporation Ltd will sell CSL, its Hong Kong-based mobiles business to HKT Limited in a deal valued at $2.425 billion.
Australia-based international packaging giant Amcor has agreed to buy Constar International Holdings' US assets for an unconfirmed sum, in a court-supervised transaction under the US Bankruptcy Code.
US-based private equity firms Carlyle Group and KKR & Co and Australian investment firm Archer Capital have advanced in the sale of Transpacific Industries Group's waste management business. The three firms are working with banks to put together loan packages to back their bids.
David Gonski, the head of the sovereign wealth fund of Australia, will be the Chairman of the Australia & New Zealand Banking Group Ltd, Bloomberg reported.
Canadian dairy firm Saputo Inc, following a probe by Australia's Takeover Panel, said that it will raise and extend its takeover offer for Warrnambool Cheese and Butter Factory Holdings Co.
Australian natural gas giant APA Group entered an agreement to acquire the rest of distribution firm Envestra Ltd after increasing its offer to around AU$1.4 billion ($1.3 billion).
Australia-based agricultural firm Ruralco Holdings Ltd will raise $25 million for the company's growth through a fully underwritten institutional placement that prices its shares at $3.25 apiece.
Australia-based investment management firm Challenger Ltd has entered a deal to purchase self-managed superannuation fund (SMSF) services provider Bendzulla Actuarial in a deal valued at $25 million.
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