Commonwealth Bank of Australia Ltd plans to sell down its 8.6% stake in Kiwi Income Property Trust, which is worth NZ$95.7 million based on its last trading price.
New Zealand
US hedge fund Libra Advisors to pick up $12M stake in NZ's Rubicon
New York, US-based hedge fund Libra Advisors will pick up a $7.2% stake in Auckland, New Zealand-based business developer Rubicon to support that latter's future forestry biotech project.
US video hosting firm Brightcove adds Unicorn Media in $49M deal
Massachusetts, US-based video hosting solutions firm Brightcove acquired Arizona-based Internet video solutions provider Unicorn Media Inc in $49-million acquisition deal to facilitate easier distribution of ad-supported video.
New Zealand's Old Ghost Road cycle trail receives $800k funding for completion
The Old Ghost Road cycle trail, which is developed by Mokihinui-Lyell Backcountry Trust, received $800,000 from the Department of Conservation of New Zealand to complete the project.
Mad Butcher owner takes stake in NZ Burger King patty supplier
Veritas Investments, the owner of the Mad Butcher business in New Zealand, is poised to spend $3.4 million in combined cash and shares to acquire a stake in the local Burger King patty supplier Kiwi Pacific Foods.
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Insurance Australia Group Ltd (IAG) bought the Australian and New Zealand underwriting business of Western Australia's farmers' cooperative Wesfarmers Ltd for $1.845 billion.
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.
UK-based investor Utilico Investments has reduced its stake in New Zealand-based energy business operator Infratil through the company's buyback program and a share sale on the market.
New Zealand-based tertiary textbook firm Bennetts Group has bought the assets of travel and accommodation guide publisher Jasons Travel Media in a deal with undisclosed financial details.
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.
Australia electronics chain Dick Smith Holdings Ltd's rise on the Australian Stock Exchange had put its enterprise value to five times its value at the time of its buyout at AUD534 million.
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.
German startup accelerator Rocket Internet raised USD112 million in new funding for online fashion retailers Zalora and The Iconic, making it the biggest single investment made for an e-commerce company in the Asian Pacific region.
Italy-based Barilla family, the founders of the biggest company pasta in the world, have shelled out USD25 million to acquire a South Island dairy farm.
