Westpac Bank has received approval from the Australian Competition and Consumer Commission to purchase the Australian assets of Lloyd's Banking Group for USD1.45 billion.
Tags: Australia
Australia's ProPrint is acquired by Printer Magazines Group
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 acquires stake in InterOil's Papua New Guinea LNG assets for USD3.6 billion
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.
Nine Entertainment shares decline up to 3.4% on stock market debut
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.
Odyssey exploring sale of aircraft parts manufacturer Wencor
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.
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California-based pharmaceutical company PaxVax Inc raised USD22 million in a Series B funding round for the late-stage trial of its single-dose oral cholera vaccine for travelers.
Nine Entertainment Co., Australia's second-largest media company, seeks to raise AUD643 million (USD582 million) in its initial public offering. If successful, the deal could give Nine a market capitalization of AUD1.93 billion.
If the Australian federal government does not boost Qantas Airways Ltd's credit ratings, the national carrier may sell its shares in its frequent flyer division or Jetstar's Asian arm, the Australian Financial Review (AFR) reported.
The shares of Australia-based electronics seller Dick Smith Holdings Ltd lifted on its debut on Wednesday after securing USD315 million in its initial public offering.
Malaysian conglomerate Sime Darby Bhd announced that it has agreed to purchase a 70% stake in Australian car dealer Brisbane BMW Unit Trust and LMM Holdings Pty Ltd for AUD22.7 million (USD20.75 million).
The government of Queensland has exited its 74.3 million shares worth USD350 million in the formerly state-owned coal and bulk freight rail company Aurizon, reducing its stake in the firm to under 5%.
Alan Joyce, chief executive of Qantas Airways Ltd, has ruled out Australia's national carrier raising fresh capital to compete with arch-rival Virgin, saying the airline still has a lot of flexibility.
San Francisco-based web app Swarm Mobile raised around USD3.5 million to develop technology that can track in-store shoppers through their smartphones to help physical stores compete with e-commerce retailers.
Australian Prime Minister Tony Abbott said today the government may purchase a stake in Qantas Airways to help the troubled carrier compete with better-financed rivals.
