Posts Tagged ‘New Acquisiton’

ASX Company News: Admerex To Acquire Coldwell Banker Licence

Friday, July 9th, 2010

Admerex Limited (ADL) has executed an agreement to acquire the Master Residential Franchise Licence from Coldwell Banker for Australia. The consideration will be in the form of ordinary shares to be issued to the parties who currently control the Master Residential Franchise Licence. The parties have negotiated the transaction based on a proposed value of $4 million for the licence and $1 million for Admerex. Under the terms of the business which operates that licence, and the proprietary systems, processes, marketing collateral and related IP plus the franchisee licences currently held by CB Greater Australia Pty Ltd. In addition, the Company will consider acquiring two franchises controlled by Alex Caraco subject to valuation. Admerex intends to immediately thereafter issue a prospectus with a view to raising sufficient capital to achieve the shareholder spread and additional working capital.

Mr Kim Goodall, Chairman of Admerex said; “We believe that this is an exciting opportunity for shareholders to participate in a well established market sector with a strong international brand and a proven business model. The real estate franchise and brokerage industry has attractive financial metrics whilst Alex and his team have a focused and successful core business around which we can build a strong market position.” Mr Alex Caraco said “Coldwell Banker in Australia is well positioned to take immediate advantage of the opportunities which currently exist in the residential real estate franchising sector. Through this transaction with Admerex we will have, the capacity to raise capital to expand and also have the flexibility to offer equity as consideration when acquisition opportunities arise.”

The Coldwell Banker presence in Australia commenced in 2002 and today has over  20 offices in three states, 200 sales associates and processes an annual gross real estate turnover in excess of $500 million (i.e. value of property sold). The business is operated by CB Greater Australia Pty Ltd. Coldwell Banker has grown to become an industry leader in a wide range of real estate markets such as Residential, Homes, Apartments, Townhouses, Villas, Land, and Holiday, Homes, Beachfront, Beachside, Country Acreage, Waterfront properties, resorts as well as Industrial, Commercial and Project Marketing. They also specialize in the sale of Prestige Landmark properties and even Islands, Resorts and Hotels through the Coldwell Banker Previews International Division. Coldwell Banker is  one of the largest real estate franchises in the world and is listed second in real estate in the Top 200 Franchises ranking as published in Franchise Times in 2009.

www.coldwellbanker.com.au

www.admerexgroup.com

http://www.traderdealer.com.au/Fundamentals/ADL

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ASX Company News: Fe Ltd Acquires Padbury Mining

Friday, July 9th, 2010

Australian resources company Fe Limited (FEL) proposes to make a cash and scrip takeover bid for all of the ordinary shares in Padbury Mining Limited. Fe proposes to make a cash and scrip takeover bid for all of the ordinary shares in Padbury Mining Limited within 2 months after the date of this proposal on the basis of 1 cent per share (post takeover) and one (1) Fe share for every thirteen (13) Padbury Mining Limited shares.

Fe has developed a strategy based on advancing its existing iron ore projects for intensive exploration and the acquisition of new projects targeting emerging iron ore provinces with a view to positioning itself as a key participant in the development of iron ore projects in the Yilgarn Province and the Midwest region of Western Australia. As a bulk commodity it is critically important for iron ore aspirants to be of a sufficient size to meet the costs and challenges associated with the development of iron ore assets and the associated infrastructure critical to delivering the product to end users.

www.felimited.com.au

http://www.traderdealer.com.au/Fundamentals/fel

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Bradken Acquires Canadian Almac Machine Works

Wednesday, May 19th, 2010

Bradken Limited (BKN) today announced it has entered into an agreement to acquire the business assets1 of Almac Machine Works (“Almac”) in Edmonton, Alberta, Canada for C$47.5 million ($51 million), representing 5.0x normalised CY09 EBITDA. In addition, a maximum earn-out of C$4.8 million ($5.2 million) is payable subject to CY10 performance of the Almac business. Almac is expected to report normalised revenue of C$51 million ($55 million) and normalised EBITDA of C$12.4 million ($13.3 million) for the year ending 31 December, 2010.

Completion of the acquisition is expected by early July 2010 and is conditional on receiving customary licences and approvals.  Commenting on the acquisition Managing Director, Brian Hodges said, “The acquisition of Almac is in line with Bradken’s strategy of building a substantial presence in the world’s major mining regions and globalising its consumable products businesses. The acquisition will provide a solid base from which to grow Bradken’s existing range of wear parts into the Western Canadian oil sands coal and hard rock mining markets.”

Almac manufactures and supplies a range of products and services primarily to the Canadian oil sands, mining, and conventional oil and gas markets. The company employs ~220 people and derives ~80% of its EBITDA from the manufacture and supply of chromium carbide overlay piping systems to the Canadian oil sands region. The balance of the business is in machining, fabrication, mechanical repairs and field services to the oil sands, mining and conventional oil and gas markets. In 2009, Almac had approximately 35% of the chromium carbide overlay pipe market supplying the Canadian oil sands industry, where it competes with 3 other players.

The acquisition will be funded through a fully underwritten institutional placement (the “Placement”) of $50 million. In addition, a Share Purchase Plan (“SPP”) will be offered, under which eligible Bradken shareholders may each subscribe for shares at the issue price determined for the Placement up to the value of $5,000, capped at $15 million in total under the SPP.

www.bradken.com

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Connxion Ventures Acquires KAZ Singapore From Telstra

Thursday, April 15th, 2010

Connxion Ventures Limited (CXN) today announced that it has entered into an agreement to acquire the business, assets, and customer contracts of KAZ Singapore from Telstra Singapore Pte Ltd, a business 100% owned by Telstra Corporation Limited (TLS). The business provides data management, IT infrastructure support services, call centre operations, IT outsourcing and support to a range of international blue chip corporations operating in South East Asia, and will provide Connxion with a new recurring revenue stream. The business is forecast to generate significant revenue in FY2010 and will make an immediate contribution to CXN’s earnings from the date that the acquisition is completed.

The data centre will allow CXN to internally house its core data services, which are currently outsourced to IBM and other data centres. CXN will be able to reduce its data centre costs and significantly increase margins on a number of its key contracts that use these services.

CXN’s Chief Executive Officer, Bill Brooks said, “This acquisition provides CXN with a major growth opportunity. It presents us with significant organic growth opportunities, it strengthens two of our key verticals – data and online services, expands our presence in Asia, and strengthens our blue chip customer base. It also provides opportunities for CXN and Telstra International to co-operate on joint projects. We will be working with KAZ SG’s customers on integrating their contracts into CXN. We expect they will be very encouraged by our capabilities, our team, and the range of additional services we can bring to them. A further upside for CXN is the organic growth them. This transaction marks another important step in CXN’s growth and provides us with the in-house technologies and services to significantly accelerate our revenue growth. Annualised revenue is now $25 million and we are still in the very early stages of our growth” Mr. Brooks said.

CXN invests in and offers a complete data and transaction solution to clients that ranges from online document creation and delivery to payments, loyalty and rewards programs. CXN is positioned for continuous growth as companies are increasingly adopting these data and transaction related services to generate greater efficiencies and grow their business in this new and challenging environment.

www.connxion.com

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Emerson Stewart Group Acquires Whelans (WA) Pty

Tuesday, January 26th, 2010

Emerson Stewart Group Limited (ESW) today announced an agreement to acquire Whelans (WA) Pty Ltd, a 110 person surveying, mapping and town planning business with its head office in Perth and regional offices in Karratha, Kalgoorlie, Kununurra and Broome. The deal, subject to Emerson Stewart shareholder approval, and contractual finalisation, is based on a $9million consideration and will be funded by a mix of cash and scrip in the ratio of around 60% cash and 40% shares. Up to 31 million shares, representing on completion about 23.8% of the issued capital in Emerson Stewart, will be dispersed individually amongst the 48 Whelan shareholders and are subject to a 12 month voluntary escrow. The shares will be issued at a price of 0.12 cents per share pursuant to a prospectus.

Emerson Stewart Managing Director and CEO, Mr Dario Amara, said the inclusion of an established and respected business like Whelans would complement Emerson Stewart’s growing market presence and would provide a conduit to take the business comfortably to its next stage. “In addition to expanding our client base and providing new services, the transaction will deliver significant growth opportunities throughout regional Western Australia and beyond,” Mr Amara said. Under the transaction the Whelans brand and leadership will not change. Mr Steven Cole, Chairman of Emerson Stewart, noted that the resultant balance sheet would comprise a low gearing affording ESW the necessary momentum and headroom to continue with its planned organic and strategic acquisitive growth.

Established in 2005 and based in Perth, Western Australia, Emerson Stewart is a project delivery, engineering, sciences and consultancy group providing services across mining + industry: minerals, oil and gas, chemicals, manufacturing; utilities + environment: water and environment, power generation and distribution; buildings + property: urban development, buildings and property, aviation, defense.   Emerson Stewart has a strong network of corporate customers. Serving the public and private business sectors in property and resources industries since the 1920s, Whelans is a spatial sciences company with services across surveying: land development, cadastral surveys, engineering surveys, exploration and mining surveys, specialist surveys, simurban, geoinfo solutions and custom graphics; mapping: aerial mapping, mine mapping, ortho processing; town planning: land use planning, statutory planning, strategic and community planning and development management. Whelans currently has offices in Perth, Karratha, Kalgoorlie, Kununurra and Broome. The company’s past and current clients include Government and private organizations throughout Western Australia.

www.whelans.com.au

www.emersonstewart.com

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Aragon Resources Acquires Fulcrum Resources

Tuesday, November 24th, 2009

Aragon Resources Limited (AAG) is pleased to announce that subject to certain approvals including Aragon shareholder approval it has entered into an agreement to acquire all of the shares, interests and rights of Fulcrum Resources Pty Ltd.

Fulcrum is an unlisted Australian company who has spent considerable effort in reviewing and assessing the historical data from the project area within the Cue district of Western Australia. This work has provided Fulcrum with a sound foundation for an extensive exploration program designed to add value and rapidly evaluate key projects within the total package.

The assets of BBGO include the 33,400 hectares in 150 mining tenements (126 granted and 24 under application with significant historic production in the Murchison Goldfield of Western Australia. This tenure is in the Cue district of the Meekatharra-Mount Magnet Greenstone belt which has accumulated production of over 12M gold ounces since 1888.

The acquisition cost for Fulcrum to acquire BBGO is $3.0 million of which a deposit of $300,000 has already been paid by Fulcrum. In addition, Fulcrum must replace all environmental performance bonds in place which currently stand at $3.2 million.  Aragon will acquire Fulcrum by allotting 35 million fully paid ordinary shares and 17.5 million options over fully paid ordinary shares convertible at $0.20 per share on or before 31 December 2013 as full compensation for the substantial geological, technical, financial and legal diligence performed as well as to acquire the rights, assets and obligations of Fulcrum. Fulcrum will become a wholly owned subsidiary of Aragon. Aragon will fund the acquisition and required working capital for the projects by a placement of up to 100 million shares at $0.13 per share pursuant to an excluded offer to sophisticated investors.

In commenting, Aragon Managing Director Paul Benson said “this is an outstanding opportunity to acquire a massive resource base and three well established mining centres in a gold belt that has already produced over 12 million ounces. With appropriately focused technical application and commitment, we believe the assets are the beginnings of another gold revival for the region”.

www.aragonresources.com.au

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Viterra Acquires Lakeside Fertilizer

Tuesday, September 29th, 2009

Viterra Inc. (VTA) and XL Foods Inc. are pleased to announce they have entered into an agreement in which Viterra will acquire the assets of Lakeside Fertilizer (Lakeside), a division of XL Foods and southern Alberta’s largest independent retailer of fertilizer and agricultural chemicals.  The transaction, which closed today, includes six retail outlets in Bow Island, Brooks, Claresholm, Medicine Hat, Taber and Vauxhall, Alberta.

“This acquisition allows us to further leverage our logistics and distribution network, ensuring that our customers in southern Alberta have the right products at the right time,” said Doug Wonnacott, Viterra’s Senior Vice-President, Agri-products. “It is also consistent with our overall strategy to optimize our retail footprint in Western Canada and increase our market share.”

Strategically located in a prime growing region of Alberta, the sites will allow Viterra to sell inputs for traditional crops, as well as high input specialty crops such as sugar beets and potatoes.  Customers will have access to a full range of agri-products including Viterra’s exclusive line-up of proprietary seed, private label crop protection products, along with a variety of custom services.  The acquisition will increase Viterra’s total number of retail sites to 259 across Western Canada.

Viterra Inc. is a global food ingredients agribusiness headquartered in Canada. The Company has extensive operations and distribution capabilities across Western Canada, as well as in Australia and New Zealand, with Adelaide, Australia being Viterra’s base for its Southeast Asian operations. Viterra also has offices and operations in the United States, Japan, Singapore, China, Switzerland, and a joint venture in Ukraine. The Company is diversified into sales and services of crop inputs and equipment, grain handling and marketing, livestock feed, food and malt processing and financial products. These operations are complemented by value-added businesses and strategic alliances, which allow Viterra to leverage its pivotal position between growers and destination customers. XL Foods Inc. is the largest Canadian owned and operated beef processor in Canada. It is part of the Nilsson Bros. Group of companies, which are a diverse agri-business that is involved in all facets of beef and cattle production, marketing and processing. XL Foods Inc. operates facilities in Alberta, Saskatchewan, Nebraska and Idaho.

www.viterra.ca

www.xlfoods.com

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Sigma Pharmaceuticals Acquires Bristol Myers Squibb Manufacturing Facility

Tuesday, September 8th, 2009

Sigma Pharmaceuticals Limited (SIP) today announced that it has entered into an agreement to acquire an established pharmaceutical brand portfolio and manufacturing facility from Bristol-Myers Squibb (BMS) for a consideration of A$60 million in cash. The Acquisition is expected to meet Sigma’s stated NPV and investment objectives and is expected to be EPS accretive in the first full year of ownership. As part of the Acquisition, Sigma will acquire the right to manufacture, market and distribute 15 ethical pharmaceutical and healthcare brands in Australia and New Zealand, including well recognized brands such as Lipostat and Pravachol; the right to export a majority of the acquired brands to New Zealand; and a modern pharmaceutical manufacturing facility located in Noble Park, Victoria.

Commenting on the Acquisition, Sigma Managing Director and CEO Mr Elmo de Alwis said, “The Acquisition from BMS is consistent with Sigma’s stated strategy of investing in and growing its branded prescription portfolio. The acquired brands are well recognised originator brands with established positions in large market segments. They are a strong fit with existing Sigma brands, further broadening Sigma’s existing product offering to the pharmacy channel.” He added “The Acquisition allows Sigma to capitalise on its proven ability to sustain the market presence of well known brands and to build on its strong track record of acquisition of brand portfolios from GlaxoSmithKline, Wyeth and Abbott.”

Sigma and BMS will also enter into a toll manufacturing agreement for a period of up to five years, under which Sigma will be engaged by BMS to contract manufacture certain pharmaceutical products for BMS for distribution in overseas territories. This additional contract manufacturing adds BMS to Sigma’s impressive portfolio of contract manufacturing customers including GlaxoSmithKline, Sanofi-Aventis and Bayer. The acquisition of BMS’ modern pharmaceutical manufacturing facility in Noble Park at below replacement cost will further boost Sigma’s overall manufacturing function and capability. The acquired brand portfolio and manufacturing contracts currently generate annual turnover of approximately A$50 million (comprising A$33 million from acquired brands and A$17 million from contract manufacturing). Sigma estimates that the EBITDA contribution from the Acquisition in the year ending 31 January 2011 will be A$15-17m .

www.sigmaco.com.au

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GPT Acquires Stake In Highpoint Shopping Centre

Tuesday, September 1st, 2009

The GPT Group (GPT) today announced that it would acquire a 16.67% interest in Highpoint Shopping Centre and the adjacent Maribyrnong Homemaker City Centre for a total purchase price of $206.3 million (excluding acquisition costs).

GPT’s Chief Executive Officer, Michael Cameron said: “Highpoint is one of Australia’s leading shopping centres and a great fit for our strategy. The asset has one of the largest trade areas for a regional centre in Australia and attractive long-term expansion opportunities with significant existing land holdings.”

The sale pric e has been determined by a market valuation process. The price for the Highpoint Shopping Centre interest is $197.5 million representing a capitalisation rate of 6.0% and the price for the Maribyrnong Homemaker City Centre interest was $8.8 million representing a capitalisation rate of 9.0%. The average yield on the combined purchase price of $206.3 million (ex cluding acquisition costs) across both properties is 6.25%. The acquisition of this interest is anticipated to increase gearing

by 1.5% to approximately 21.5%. GPT’s guidance for 2009 remains at $365 million in realised operating income with a distribution per security of 4.5 cents.

www.gpt.com.au

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Downer EDI To Acquire Western Construction

Monday, August 31st, 2009

Downer EDI Limited (DOW) today announced it has signed a conditional agreement to acquire Western Construction Co, a leading provider of specialized mechanical fabrication, construction and mechanical maintenance services to the oil and gas and resources sectors.

Downer Group Chief Executive Officer, Geoff Knox, said the acquisition, scheduled for completion in September 2009, reinforces the Group’s position as a leading supplier of mechanical services to the Australian resources and energy sectors. “The acquisition of Western Construction Co enhances our mechanical construction and maintenance capabilities and further strengthens our ability to capitalise on the significant growth opportunities emanating from the energy and resource sectors, particularly the LNG and iron ore markets in Western Australia,” Mr Knox said. “This acquisition is consistent with our strategy of seeking bolt-on investment opportunities which offer value, scale and competencies adjacent and parallel to Downer EDI, with the ability to ultimately deliver a greater service offering to our customers.” “Downer’s broad design, consulting, engineering, rail and mining capabilities, combined with our strong client base across Australasia, position us well to capitalise on the significant opportunities in the region, in particular the large LNG projects earmarked for the west,” Mr Knox said.

Western Construction Co’s operations are based out of Kwinana in Western Australia. The Group carries expertise in engineering design, project management, fabrication, construction, installation, commissioning and refurbishment as well as whole-of-life plant and equipment maintenance and shutdowns. During the past 35 years Western Construction Co has successfully delivered a range of servi ces across Australasian projec ts in the oil and gas, resourc es and mining and heavy industrial sectors.

Downer EDI Limited is an Australian top -100 company that provides comprehensive engineering and infrastructure management services to the public and private transport, energy, infrastructure, communications and resources sectors, across Australia, New Zealand, the Asia Pacific region and the United Kingdom.

www.downeredi.com

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