VENTURE CAPITAL POST

In its first acquisition after going public, Australia-based insurance brokering network Steadfast Group Limited has bought a 60% stake in underwriting agency Protecsure Pty Limited.

Switzerland's biggest bank, UBS AG, will be entering the property market in Australia through a joint venture with local developer Grocon Pty, a Bloomberg report said.

Investment banks Macquarie Group and UBS AG managed to raise $521.2 million in Australian insurer Cover-More's listing. Shares offered are priced at $2 per share and will start trading before the year ends.

Australia-based dairy firm Bega Cheese's offered to merge with Murray Goulburn to to preserve the Australian ownership of Warrnambool Cheese and Butter (WCB), amid a three-way bidding contest with Saputo for WCB.

Australia's Federal Treasurer Joe Hockey has granted approval of the Chinese company Yanzhou Coal's takeover of Australian mining firm Yancoal Australia, just two weeks after he rejected a foreign buyout bid for GrainCorp.

Hours after announcing the departure of chief executive Dan Akerson, the Holden unit of General Motors Co announced its decision to halt its auto making operations in Australia by 2017.

Gold miner Centamin Plc has announced a USD40.9 million takeover offer for Perth-based mining firm Ampella Mining Ltd, in a deal that values Ampella shares at USD0.16 apiece.

Australia-based taxi app ingogo has raised an additional AUD3.4 million in venture capital funding and expressed plans for a 2014 listing on the Australian Securities Exchange (ASX).

New Zealand-based express package services provider Freightways Limited has purchased two document destruction businesses, namely Sydney-based Advance Security Destruction Services and Hastings-based Docushred, for a total of USD13 million.

Telecom Corp Ltd has offloaded its Australian AAPT unit to TPG Telecom Ltd UDS450 million to initially repay debt and focus on its operations in New Zealand.

With the revival of initial public offerings, Australian bankers have many things to be happy for as underwriting fees also surge, according to a report.

Australia-based ProPrint magazine has been purchased by Printer Magazines Group for an undisclosed amount after ProPrint's parent firm, Haymarket Media, decided to exit from the Australian market.

Total, Europe's third-biggest oil company, will purchase a 61.3% stake in InterOil Corp.'s liquified natural gas project in Papua New Guinea. The acquisition deal is worth USD3.6 billion.

Shares of Australian broadcaster Nine Entertainment declined in its first trading day by as much as 3.4% in Sydney to AUD 2 per share from its offer price of AUD 2.05.

New York-based private equity firm Odyssey Investment Partners is reportedly looking to sell its portfolio company Wencor Group. Wencor manufactures aircraft parts and is based in Springville, Utah.