Arrium Limited( ARI):
South Korea’s JB Asset Management has emerged as a key player alongside private equity firm Newlake Alliance in one of the two bids for the Arrium Australia assets, which include the Whyalla steelworks. Street Talk can reveal that the Korean bid is also proposing a 200-megawatt gas-fired power plant be built as part of the proposal, which would not only power the steelworks in South Australia but feed extra electricity back into the state’s troublesome electricity grid. South Korean heavyweight JB Asset Management has emerged as a key player alongside private equity firm Newlake Alliance in one of the two bids for the Arrium Australia assets which include the Whyalla steelworks.
Aurizon Holdings Limited (AZJ):
Aurizon is likely to sell off its historic Rockhampton workshop in Queensland after shutting it down at the end of next year, as it slashes hundreds more jobs and moves full-time workers to cheaper, flexible contracts. Unions have accused Aurizon of ‘‘corporate greed’’ after the company said in early June that it would close the workshop, which sits on 25 hectares of land, leading to the loss of 181 jobs in Rockhampton.
Bellamy's Australia Limited (BAL); Fonterra Shareholders' fund (FSF):
Troubled infant formula manufacturer Bellamy’s is seeking to issue $78.4 million in new shares to finance its ‘‘stabilisation plan’’, which includes buying a Victorian canning unit. The facility holds licences that will eventually allow the Tasmanian company to sell its product into China – subject to regulatory process. Bellamy’s has also revealed a salary package of up to $2.3 million for new chief executive Andrew Cohen and a restructured contract with dairy group Fonterra. As part of the plan, Bellamy’s – which last year went from one of the market’s greatest success stories to one of its most under-pressure stocks – is seeking to raise $60 million from institutional and retail investors in a five-for-38 rights issue, or $4.75 a share, which is sub-underwritten by 7 per cent shareholder Janchor Partners.
BHP Billiton Limited (BHP):
Big investors in BHP support Ken MacKenzie being named the company’s new chairman because they see him as a strong candidate and his rivals being weakened by their association to the company’s much-criticised $US20 billion investment in US shale oil and gas assets. The former Amcor boss has repeatedly been named among the top contenders to replace BHP chairman Jac Nasser this year and some believe Mr Nasser’s successor could be named as early as this week. BT Investment management portfolio manager Brenton Saunders said Mr MacKenzie appeared to be the best candidate based on his record.
Charter Hall Group (CHC):
Charter Hall Group is aiming to transform into a fully fledged manager of real assets by buying infrastructure platform Hastings Funds Management, which has close to $13 billion in its portfolio. If a deal is transacted it will lift Charter Hall into the ranks of Australia’s major investment managers, such as Queensland funds giant QIC and diversified manager AMP Capital. As revealed by Street Talk, Charter Hall is now in the early stages of negotiations to buy the Hastings platform, which is Westpac Banking Corp’s infrastructure investment arm. A deal would transform Charter Hall, led by David Harrison, diversifying its assets under management and propelling its portfolio to almost $32 billion.
(Source: AIMS)
South Korea’s JB Asset Management has emerged as a key player alongside private equity firm Newlake Alliance in one of the two bids for the Arrium Australia assets, which include the Whyalla steelworks. Street Talk can reveal that the Korean bid is also proposing a 200-megawatt gas-fired power plant be built as part of the proposal, which would not only power the steelworks in South Australia but feed extra electricity back into the state’s troublesome electricity grid. South Korean heavyweight JB Asset Management has emerged as a key player alongside private equity firm Newlake Alliance in one of the two bids for the Arrium Australia assets which include the Whyalla steelworks.
Aurizon Holdings Limited (AZJ):
Aurizon is likely to sell off its historic Rockhampton workshop in Queensland after shutting it down at the end of next year, as it slashes hundreds more jobs and moves full-time workers to cheaper, flexible contracts. Unions have accused Aurizon of ‘‘corporate greed’’ after the company said in early June that it would close the workshop, which sits on 25 hectares of land, leading to the loss of 181 jobs in Rockhampton.
Bellamy's Australia Limited (BAL); Fonterra Shareholders' fund (FSF):
Troubled infant formula manufacturer Bellamy’s is seeking to issue $78.4 million in new shares to finance its ‘‘stabilisation plan’’, which includes buying a Victorian canning unit. The facility holds licences that will eventually allow the Tasmanian company to sell its product into China – subject to regulatory process. Bellamy’s has also revealed a salary package of up to $2.3 million for new chief executive Andrew Cohen and a restructured contract with dairy group Fonterra. As part of the plan, Bellamy’s – which last year went from one of the market’s greatest success stories to one of its most under-pressure stocks – is seeking to raise $60 million from institutional and retail investors in a five-for-38 rights issue, or $4.75 a share, which is sub-underwritten by 7 per cent shareholder Janchor Partners.
BHP Billiton Limited (BHP):
Big investors in BHP support Ken MacKenzie being named the company’s new chairman because they see him as a strong candidate and his rivals being weakened by their association to the company’s much-criticised $US20 billion investment in US shale oil and gas assets. The former Amcor boss has repeatedly been named among the top contenders to replace BHP chairman Jac Nasser this year and some believe Mr Nasser’s successor could be named as early as this week. BT Investment management portfolio manager Brenton Saunders said Mr MacKenzie appeared to be the best candidate based on his record.
Charter Hall Group (CHC):
Charter Hall Group is aiming to transform into a fully fledged manager of real assets by buying infrastructure platform Hastings Funds Management, which has close to $13 billion in its portfolio. If a deal is transacted it will lift Charter Hall into the ranks of Australia’s major investment managers, such as Queensland funds giant QIC and diversified manager AMP Capital. As revealed by Street Talk, Charter Hall is now in the early stages of negotiations to buy the Hastings platform, which is Westpac Banking Corp’s infrastructure investment arm. A deal would transform Charter Hall, led by David Harrison, diversifying its assets under management and propelling its portfolio to almost $32 billion.
(Source: AIMS)
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