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.
Oceania
Australia's Leighton buys out Indian partner Welspun in $100M deal -source
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.
PCH International acquires Australian distribution firm Conexus
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.
Chinese firm eyes purchase of Australia's United Dairy
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 in talks with non-Australian investors to sell stake in Warrnambool -source
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.
Latest News
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.
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.
Australia-based funds management group Alceon has acquired two shopping centers from Mirvac Group in a deal valued at $100 million as part of the listed group's non-core disposal program.
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.
Melbourne-based First Guardian plans to launch an Islamic pension fund in January, collaborating with some of Australia's most well-known Muslim organisations to tap the country's $1.5 trillion private pension system, the world's fourth largest.
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.
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.
New South Wales, Australia-based dairy firm Bega Cheese Ltd will consider stake options after dropping out of the three-way takeover contest for Warrnambool Cheese & Butter Factory Co.
