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  • Brickworks defends Soul Pattinson cross shareholding | Business Spectator
    with his latest venture Jelly Enterprises But the just launched app will have to quickly shift into something of real value if it s to become a mainstream success Climate Carbon markets Energy markets Renewable energy Resources Solar energy Wind power CleanTech Science Environment Green Deals Policy Politics Smart Energy Latest stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Brickworks defends Soul Pattinson cross shareholding 26 Nov 2013 12 33 PM DataRoom Dealmakers Chairman Millner hits back at claims from Perpetual and Carnegie about use of association You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password By a staff reporter Brickworks Ltd chairman Robert Millner has defended the group s association with Washington H Soul Pattinson in response to a move by Perpetual Investment Management Perpetual and M H Carnegie Co Carnegie to put the cross shareholding under scrutiny Mr Millner told shareholders at Brickworks annual general meeting that Perpetual and Carnegie are claiming the usefulness of the association with Washington H Soul Pattinson has passed Whilst it is certainly a long standing arrangement put back in place in 1969 this does not necessarily meant that it has passed its used by date he said Mr Millner also said Perpetual and Carnegie claimed a perceived underperformance of Brickworks has been hidden by the cross shareholding This proposition fundamentally fails to appreciate the benefits and the purpose of Brickworks investment in Soul Pattinson As I mentioned earlier one of the key reasons for the investment in Soul Pattinson is to protect Brickworks from fluctuations in the building cycle Mr Millner added over time it was natural to expect extended periods of outperformance by Soul Pattinson compared with Brickworks and vice versa Print this page Related articles 13 Jan Singh behind key KKR deal 13 Jan Financial Index to

    Original URL path: http://www.businessspectator.com.au/news/2013/11/26/dataroom/brickworks-defends-soul-pattinson-cross-shareholding (2014-01-12)
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  • CapitaLand drops JPMorgan for Citigroup | Business Spectator
    stories Marking the milestones of 2013 Australia s transition to a clean energy economy took some political blows in 2013 but progress on the ground was heartening with energy efficiency solar and wind all providing tangible proof of their future potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu CapitaLand drops JPMorgan for Citigroup Bridget Carter The Australian 21 Nov 2013 12 30 PM DataRoom Dealmakers Industries Property CapitaLand s choice of advisor for the block trade of its holding in Australand surprised some in the market You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password IT was taken somewhat as a given that should CapitaLand embark on a block trade of its major holding in Australand the bankers working on the deal would be JPMorgan CapitaLand which until yesterday held 60 per cent in Australand however was advised by Citigroup It surprised some in the market because JPMorgan was CapitaLand s adviser last year when GPT Group launched a takeover bid for Australand JPMorgan had been working on the deal until recently sources said One source said the stock did not look cheap and there could be some funds that did not participate However Citi has also been working with the company for months according to some sources and has worked on some of the biggest equity raisings in the real estate sector in recent years The bank is underwriting CapitaLand s selldown of Australand which is expected to reap 426 million for the Singaporean giant One source close to the deal said JPMorgan shunned the work for CapitaLand because the investment bank did not believe that it was possible to sell the shares in the company at that price and questioned where the demand would come from CapitaLand declined to comment The Singaporean company will sell 115 66 million shares in Australand at between 3 685 to 3 75 each The shares are being sold at a 1 7 per cent discount to the last traded price of 3 75 and at a 4 2 per

    Original URL path: http://www.businessspectator.com.au/news/2013/11/21/property/capitaland-drops-jpmorgan-citigroup (2014-01-12)
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  • JP Morgan sees wall of money for M&A uptick | Business Spectator
    as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu JP Morgan sees wall of money for M amp A uptick Brett Cole 19 Nov 2013 11 10 AM DataRoom Dealmakers Mergers Acquisitions The second half of 2014 may see a significant pick up in takeovers the investment bank says You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password Happy days for M A bankers may soon be here again says JPMorgan Chase Co That is welcome news for many advising on takeovers as dealmakers this year have seen M A volume fall 20 per cent compared with 2012 according to Bloomberg data There has been US 64 48 billion worth of pending or completed M A transactions in Australia in the year to date compared with US 80 57 billion during the same period last year Average deal sizes have also fallen This year the average deal size is US 91 85 million compared with US 110 98 million in 2012 JPMorgan bankers think 2014 will be a different story We expect the first half of next year to be fairly muted Jon Gidney head of M A in Australia for JPMorgan told DataRoom However we think the second half will be strong with Australian corporates continuing to reshape and position for growth private equity recycling capital while global buyers refocus on Australian commodity and gas reserves The S P ASX 200 Index has gained 16 per cent this year Company balance sheets are in a healthier state than they were several years ago while the stock market is supportive of transactions Witness the late year deluge of initial public offerings say bankers who compete with JPMorgan Graham Lees head of syndicated and leveraged finance for the firm in Australia says offshore financing markets remain hungry for investment grade and non investment grade paper that could be issued to finance takeovers There is a wall of money needing to be put to work Lees told DataRoom JPMorgan is currently ranked fourth among Australian investment banking M A advisors in Australia so far this year according to Bloomberg data The firm has advised on eight deals worth US 6 09 billion for a

    Original URL path: http://www.businessspectator.com.au/article/2013/11/19/dealmakers/jp-morgan-sees-wall-money-ma-uptick (2014-01-12)
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  • Veda, Vocation IPOs to generate $20.7m in fees | Business Spectator
    potential A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Veda Vocation IPOs to generate 20 7m in fees Brett Cole 18 Nov 2013 4 42 PM DataRoom Dealmakers Equity Capital Markets Industries Financial Services UBS Macquarie and Citigroup will share the fees but only UBS is on both deals You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password It s been a good day for the equity capital markets bankers at UBS AG Two of their customers on Monday lodged prospectuses education and training company Vocation Ltd and credit bureau Veda Group Ltd The initial public offerings of Veda and Vocation will garner 20 7 million in fees that will be shared amongst Citigroup Inc Macquarie Group Ltd and UBS The Swiss investment bank may not be on the left of the prospectuses the traditional spot that designates the lead book runner but UBS is not necessarily going to be discriminated against in terms of a share of fees The wave of companies rushing to list on the ASX by December 15 traditionally considered the last day a company could list on the stock market is a welcome change from a fallow first 10 months this year in terms of IPOs Companies such as Veda and Vocation will also help boost UBS position in the Australian IPO league table where it is currently joint second with Commonwealth Bank of Australia Ltd according to Bloomberg data Macquarie is the clear leader with a 41 per cent market share in Australian IPOs according to the data But UBS may be able to claw back some ground on Macquarie through its role as sole global coordinator of Nine Entertainment Co s IPO Nine s share sale may raise as much as 697 3 million the biggest IPO in Australia this year Still Macquarie is a joint lead manager along with Morgan Stanley and Commonwealth Bank of the Nine IPO and has the same role in the 358 1 million IPO of electronics retailer Dick Smith Holdings Ltd By the end of

    Original URL path: http://www.businessspectator.com.au/news/2013/11/18/dataroom/veda-vocation-ipos-generate-207m-fees (2014-01-12)
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  • Lazard, Freehills face Medibank interviews | Business Spectator
    yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password During the next five days some of Australia s most senior investment bankers and lawyers will seek to convince Canberra their firms should be given the role of business or legal adviser for the scoping study on the potential sale of Medibank Private Ltd Lazard Ltd s John Wylie N M Rothschild Sons Ltd s Gareth Cope and Greenhill Co s Jamie Garis will be quizzed by the Department of Finance on their tender submissions for how they would help guide a sale of the health insurer as business adviser Partners at Herbert Smith Freehills Gilbert Tobin and Minter Ellison will likewise seek to convince the government of their merits as a legal adviser A decision on who wins the business and legal adviser mandates will be made at the end of this month On Friday accounting firms submitted tenders to become the accounting adviser to the government on the Medibank scoping study The firms selected will have to work together with the Department of Finance as well as Minister of Finance Senator Mathias Cormann s office to produce a recommendation on the Medibank sale by February 28 Law firms are aware the government wants to keep legal fees as low as possible during the initial planning stage of Medibank s sale Freehills Gilbert Tobin and Minter will probably say they will accept less than 1 million for the contract to be the Medibank scoping study legal adviser The three law firms hope that if they win the role as scoping study legal adviser it will put them into prime position to be legal adviser on the Medibank sale That will garner them fees of at least 5 million For Lazard Rothschild and Greenhill the role of Medibank scoping study business adviser is less dependent on price but more on expertise This puts Lazard in pole position to win the Mediabank mandate as John Wylie led two similar studies for the Howard government in 2003 and 2006 Moreover in state asset sales Lazard can point to its success across the Tasman this year Lazard s Andrew Leyden advised the New Zealand government on the sale of Mighty River Power Ltd and Meridian Energy Ltd The fee the government pays an investment bank will probably be a multi million dollar one as the firm chosen as business adviser will probably go on to advise the government on the health insurer s sale The government may decide to go down a dual track sale process exploring an initial public offering of Medibank as well as soliciting bids for the health insurer from interested buyers A dual track sale process may be more expensive for Canberra in

    Original URL path: http://www.businessspectator.com.au/news/2013/11/18/dealmakers/lazard-freehills-face-medibank-interviews (2014-01-12)
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  • Dealmakers | Business Spectator
    dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Dealmakers Starfish Ventures sees room for US funds The venture capital firm says there are plenty of good Australian entrepreneurs that need capital by Brett Cole 12 18pm November 08 Goldman Macquarie vie for top spot Goldman Sachs is just ahead of Macquarie in the race to be the top takeover advisor in Australia by Brett Cole 1 42pm November 06 Credit Suisse First NZ venture hires bankers Former Barclays banker Daniel Janes and Credit Suisse s Peter Paltoglou are the senior investment bankers at the JV by Brett Cole 3 38pm November 01 Ambitions keep the cheese war churning The battle for Warrnambool Cheese has become a battle of egos with the succession of higher bids suggesting strategic issues are perhaps overshadowing questions of value and return by Brett Cole 12 28pm October 25 KTM Capital wins coveted IPO role Freelancer CEO Matt Barrie chose boutique investment bank KTM Capital over Macquarie for its IPO by Brett Cole 3 12pm October 23 Warrnambool s board is sitting pretty The Victorian dairy company anticipates improved bids from its multiple suitors by Brett Cole 5 34pm October 21 AAPT for sale report Australian telco could fetch 400m after parent Telecom NZ offers it for sale 2 17pm October 21 Greenhill hires Jablko Valmadre The New York based firm is beefing up its M A and equity capital markets teams by Brett Cole 9 43am October 17 Select Harvest seeks acquisitions The almond producer is keen to buy farms in South Australia New South Wales and Victoria by Brett Cole 2 56pm October 16 EMR Capital seeks resource investments The private equity fund wants to takes stakes in resource companies with market values of less than 300 million by Brett Cole 2 44pm October 16 How Westpac sealed the 1 45 bn deal Westpac called in UBS and Gilbert Tobin to help it acquire Lloyds Australian business beating out the competition with a bid of 1 45 billion by Brett Cole 5 17pm October 11 Murray Goulburn turns to John Wylie for advice The dairy co operative is seeking advice from Lazard s Australian head to advise it on the Warrnambool battle by Brett Cole 5 03pm October 11 CLSA sets its sights down under The Australian head of CLSA James Paterson wants the firm to be a top six institutional broker by Brett Cole 12 14pm October 04 Wood to head BAML investment

    Original URL path: http://www.businessspectator.com.au/dataroom/dealmakers?page=1 (2014-01-12)
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  • Dealmakers | Business Spectator
    Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Dealmakers Shell role underscores Merrill Lynch s Australian revival The investment bank is advising Shell on the sale of its Australian retail and refining businesses in a deal that may be worth as much as 3 billion by Brett Cole 1 26pm January 09 Carnegie to head Blackstone s Sydney office James Carnegie a private equity specialist will be looking to seal the investment giant s first local deal by Brett Cole 1 38pm January 07 2 comments Anchorage five cash in on Dick Smith float Christmas has come early for the five key players at the private equity firm that floated Dick Smith after just one year of ownership by Bridget Carter The Australian 9 57am December 23 2 comments Bankers cool on MnA deal outlook for 2014 M A bankers say while boardrooms are more confident and balance sheets are in good shape there may be little improvement in the volume of deals next year by Brett Cole 11 48am December 20 1 comment UBS takes title as best bank Survey of corporates sees Swiss based group labelled Australia s best investment bank by Michael Bennet The Australian 2 26am December 20 Saputo s bankers court Bega Kirin advisors Rabobank and Rothschild are trying to woo Kidder Williams and Greenhill advisors to the significant Warrnambool stakeholders by Brett Cole 11 24am December 19 3 comments Merrill mulls adding to real estate team Bank of America Merrill Lynch may beef up its real estate investment banking team in an effort to boost its resources by By Bridget Carter The Australian 11 57am December 17 Waislitz gets 34m elite backing Billionaire s new fund wins support from corporate heavyweights by Damon Kitney The Australian 2 23am December 16 PE action is in distressed Australian assets While Oaktree and Apollo pursue Australia s distressed debt turnarounds Blackstone and KKR have shifted their buyout attention north to Asia leaving their Australian offices to focus on investment funds and real estate opportunities by Brett Cole 1 09pm December 12 Paul Costello quits Blackstone The former Future Fund chairman is departing the US private equity giant s Australia and New Zealand operations after two years by Brett Cole 9 18am December 11 Westfield taps sporting connection Soccer ties seen in Westfield s link with advisor Rothschild by Bridget Carter The Australian 1 13am December 05 Deutsche Bank names NZ chief Patrick O Rourke has succeeded Brett Shepherd as chief country officer of the German bank in New Zealand by Brett Cole 4 25pm December 02 Canberra faces crunch time on M A Joe Hockey and the coalition government need to prove to the world that Australia is still open for business according to bankers and lawyers by Brett Cole 4 24pm November 29 1 comment Edwards to run Lazard in

    Original URL path: http://www.businessspectator.com.au/dataroom/dealmakers?destination=taxonomy/term/141516 (2014-01-12)
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  • Roy Hill secures $US700m loan | Business Spectator
    A fifth year of declining power consumption Power consumption fell again in 2013 dipping 2 8 per cent across the National Electricity Market as scheduled renewables rose to 12 per cent of the market Industries Advertising and Marketing Agribusiness Automotive Aviation Construction and Engineering Education Family Business Financial Services Food and Beverages Gaming and Racing Health and Pharmaceuticals HR Industrial relations Information Technology Infrastructure Insurance Manufacturing Media and Digital Resources and Energy Professional Services Property Retail Small Business SME Telecommunications The Ashes Tourism Transport and Logistics Video KGB TV China Spectator CEO Hub Leadership Lab Management Insights Young Leaders Knowledge Centre Adapt or Die Knowledge Hub Business Accelerators Webinars eBooks Menu Roy Hill secures US700m loan 20 Dec 2013 9 21 AM DataRoom Debt Capital Markets Industries Construction and Engineering Information Technology Resources and Energy Gina Rinehart s iron ore JV wins significant backing from US govt agency You must be logged in to read this article Not a member yet Register today Business Spectator is available on all of your devices so you can access the latest news and commentary where and how you like Register now Already a member Sign in here Email Address Enter your Email Address Password Enter the password that accompanies your Email Address Remember me Log in Request new password AAP Billionaire Gina Rinehart has secured almost 800 million towards her 10 billion Roy Hill iron ore project in Western Australia Australia s richest person is trying to obtain 7 billion in funding to get the Pilbara mine port and and rail joint venture off the ground She had hoped to have all the funding in place by the middle of 2013 On Thursday the Export Import Ex Im Bank of the United States approved a US694 4 million 785 92 million loan to Roy Hill Holdings on the condition the company purchase US mining and rail equipment from companies such as Caterpillar GE and Atlas Copco The Ex Im finance approval increases the prospect of Caterpillar providing a large trucking fleet GE building locomotives and Atlas Copco supplying industrial equipment to Roy Hill The approval is a significant milestone for the Perth based company which has been busily trying to secure funding from other export credit agencies throughout the world while local commercial banks consider financing the project Ex Im President Fred P Hochberg said after a comprehensive review the bank decided the transaction represented a significant opportunity for American exporters to create and sustain 3 400 American jobs many of them at small businesses Projects this size can be difficult to finance that s where Ex Im comes in Mr Hochberg said Our financing positions American companies on a level playing field so they can close the sales and expand their homegrown workforces Mr Hochberg said export credit agencies of several other countries had obtained preliminary or final approvals for the Roy Hill transaction He did not specify which but those credit agencies are expected to finance more than half the 7

    Original URL path: http://www.businessspectator.com.au/news/2013/12/20/resources-and-energy/roy-hill-secures-us700m-loan (2014-01-12)
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