Japan-based trading house Marubeni Corp sold its 30% interest in Australia-based Milmerran Power Station to a buyer in South Korea for under A$200 million ($179 million), according to a source familiar with the deal.
Australia
Petroleum companies Royal Dutch Shell and BP are reportedly looking to sell its oil refineries and petrol stations in Australia to generate cash for their energy production business segments. Chevron Corp. reportedly may follow suit and exit its service stations in the country.
United Dairy Power, the biggest privately owned milk supplier in Australia, is looking to dispose a stake in the firm to an Australian diary investor for an undisclosed sum.
Tech giant Apple has purchases Australia-based startup SnappyLabs, a one-man team behind the photo app that augments iPhone's camera, according to earlier reports by TechCrunch and Recode.
Australia-based wireless network provider BigAir Group plans to add telecommunications firm Anittel Communications Pty Ltd (ACPL) from Anittel Group Ltd in a deal valued at $6.5 million.
The State Grid Corp of China officially completed the $7.5-billion purchase of interests in Australian power firms SP AusNet and Jemena from utilities group Singapore Power.
Australia-based protective clothing manufacturer Ansell Ltd has completed the purchase of US-based firm BarrierSafe Solutions International in a deal valued at $615 million (A$692.29 million).
The initial public offering (IPO) pipeline of Australia is set to improve along with merger and acquisition activity in 2014 despite poor performances this year, according to investment bank UBS.
Australian construction firm Leighton, is buyout out Welspun Group's 40% stake in the company in a $100-million deal (INR62 crore), according to a person directly familiar with the matter.
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.
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.
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