CityView unveils Nigeria joint-venture

Wed, 25 Mar 2009 17:26:16 0

Commodities giant CityView has announced that it is to enter into an oil-based joint-venture in Nigeria.

Alongside the infrastructure development group Deanshanger, Perth's CityView will look to capitalise on the west African nation's oil resources by purchasing the 100,000 barrel per day c...

Chinalco closer to Rio Tinto deal

Wed, 25 Mar 2009 17:03:48 0

Chinese resources behemoth Chinalco has moved closed to acquiring Rio Tinto in a USD$19.5 billion (AUD$37.65 billion) deal.

Government-owned Chinalco had been subject to scrutiny from the Australian Competition and Consumer Commission (ACCC) due to the perceived effect an agreement could ha...

UK company liquidations set to soar

Wed, 25 Mar 2009 17:02:25 0

Company liquidations in the UK are set to soar during 2009, one expert has said.

According to the accountancy group Wilkins Kennedy, instances of British firms going bust could hit their highest level for more than 15 years, with many businesses choosing to wind themselves up rather than fa...

Hochschild mining buys out Southwestern

Tue, 24 Mar 2009 17:11:16 0

London-based Hochschild Mining has completed its acquisition of Canada's Southwestern Resources Corporation.

The UK firm's CAD$0.50 (AUD$0.58) per-share offer is a 144 per cent premium on the Vancouver group's closing price on the Toronto Stock Exchange on March 9th - the day before the ag...

BG Group acquires 90% of Pure

Tue, 24 Mar 2009 17:09:57 0

Natural gas giant BG Group has acquired 90 per cent of the capital in Australia's Pure Energy Resources.

As part of a transaction worth approximately AUD$200 million, London Stock Exchange-listed BG will pay AUD$8.25 per share for Pure.

The deal has been agreed after Arrow, another...

Wholesaler acquires Woolworths asset in £15.6m deal

Mon, 23 Mar 2009 17:10:38 0

UK newspaper wholesaler Smiths New has completed the £15.6 million (AUD$32.33 million) acquisition of Bertram Group.

Formerly part of the now defunct Woolworths Group, the takeover of the Norwich-based firm could bring in an additional £122.5 million in revenues for Smiths News.

London Mining completes China acquisitions

Mon, 23 Mar 2009 17:09:39 0

London Mining has completed the acquisitions of two major resources companies in China.

Alongside its US-based partner Wits Basins Precious Materials, the group has taken over Nanjing Sudan Mining and Maanshan Xiaonanshan through their joint venture China Global Mining Resources for a price...

Aus firms warned over tax debt administration

Mon, 23 Mar 2009 17:08:05 0

Australian businesses have been warned to monitor their tax debts or risk administration.

As reported by the national business website, Money Management, a representative from Hall Chadwick accountants, Richard Albarran, believes that many firms in the country are currently in danger.
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Co-op completes food stores acquisition

Fri, 20 Mar 2009 17:12:11 0

The UK's Co-operative Group has completed a deal to acquire the Plymouth and South West Co-operative Society.

As part of the merger, the Co-operative will take on 67 food outlets based in the south-west of England.

This deal, or similar agreements, can often be completed through an...

UK kitchen firm sold following administration

Fri, 20 Mar 2009 17:11:31 0

UK-based kitchens manufacturer Smallbone has successfully been sold by its administrators.

The group had been placed into administration and PricewaterhouseCoopers (PwC) subsequently appointed to engineer its sale after the group ran into severe financial difficulties.

Almost insta...

Liquidation final act for NSW theatre company

Thu, 19 Mar 2009 17:18:28 0

A New South Wales theatre company has been placed into liquidation following the withdrawal of government funding.

The Riverina Theatre Company (RTC), based in Wagga, was once the largest professional acting group in the region, but now appears to have put on its final performance, the Dail...

British logistics firm makes final delivery

Thu, 19 Mar 2009 17:17:27 0

A major British logistics firm has entered voluntary liquidation after seeing its turnover plummet by 40 per cent, it has been reported.

Newport, Wales-based RJ Mason hit the wall last month and subsequently appointed liquidator Begbies Traynor after ramping up debts of around £600,000...

UK's Cadenza plunges into liquidation

Thu, 19 Mar 2009 17:16:02 0

The UK property firm Cadenza has been put into voluntary liquidation by its owner following the Icelandic banking meltdown.

Tony Pidgley Jr, who is son of Berkley Group founder Tony Pidgley, told London's the Times that his company had run into funding problems during the fallout of the Lan...

Perpetual acquires Financial Pursuit

Wed, 18 Mar 2009 16:57:58 0

The investment giant Perpetual has completed the acquisition of the fiscal advisory practise Financial Pursuit.

Through the deal, Sydney-based Perpetual claimed its total funds under advice would rise to AUD$6.4 billion.

When completing the due diligence process, representatives f...

Newcrest mining for acquisitions, report claims

Wed, 18 Mar 2009 16:56:31 0

Mining giant Newcrest is currently looking at acquisition opportunities, a report in the has Australian stated.

The gold miner - which has interests in Australia and Indonesia - is said to be keen on looking at a number of potential agreements over the next 12 months.

When performi...

Viking Rentals acquires toilet rival

Tue, 17 Mar 2009 17:08:46 0

Portable toilet provider Viking Rentals has concluded a deal to acquire its rival Elite Portable, it has been reported.

The deal - which was backed by Blue Sky Private Equity - is part of the Australian business's wider attempt to branch out into new markets within the sector, according to...

Storm Financial heads for liquidation

Tue, 17 Mar 2009 17:07:54 0

Storm Financial is set to be placed in liquidation next week after failing to repay creditors, it has been reported.

According to the Australian Associated Press, the group owes about AUD$80 million after being placed in administration about two months ago.

When in administration,...

British ski resort seeks new owners

Tue, 17 Mar 2009 17:07:13 0

A struggling British ski resort has issued a call for new ownership or investment to accelerate its development plans.

Scotland's Glencoe Mountain, which was recently saved from liquidation, has said it needs the investment for its proposed £8 million gondola installation.

Whe...

NZ insolvencies leap by 40%

Mon, 16 Mar 2009 16:08:27 0

Corporate insolvencies in New Zealand have soared by over 40 per cent during the last seven months, it has been reported.

According to the New Zealand Herald, close to 3,300 firms have fallen into liquidation while more than 215 have gone into receivership, compared to 2,344 and 80, respect...

Businesses must 'act early' to beat insolvency

Mon, 16 Mar 2009 16:07:25 0

British businesses must act early to avoid corporate bankruptcy during severe recession, it has been reported.

An expert in company insolvency has told the Herald newspaper that companies must heed the early warning signs of financial difficulties and take appropriate action.

One p...

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