M&A

The ACCC has opposed IAG’s proposed $1.35 billion acquisition of RACWA's insurance operations, saying the deal would substantially lessen competition for motor vehicle and home and contents insurance in Western Australia.

Setting up another potential legal fight, Mayne Pharma has said US drug maker Cosette did not validly terminate their $672 million merger agreement, which failed to receive FIRB approval.

Hong Kong-based Far East Consortium has sold a 50 per cent stake in the Ritz-Carlton Perth to Cayman Islands-based Generation Essentials Group for $100 million. 

National Storage REIT has agreed to a takeover by a consortium of Brookfield Property and GIC Investments that values the self-storage investor at $4 billion.

Charter Hall has acquired the Burwood One shopping centre in Melbourne’s east for $210 million, just days after snapping up a triple-supermarket-anchored shopping destination in Queensland. 

Law firm Allens is behind the recent sale by Pamoja Capital of a majority stake in UniLodge to Japanese property developer Samty.

Engineering firm CIMIC has sold off half of its transport business, UGL Transport, to a Japanese company for $500 million, as it looks to expand into new markets. 

A consortium of Brookfield Property and GIC Investments has moved to acquire National Storage REIT, making an offer that values the self-storage investor at $4 billion.

MA Financial Group has added Hyperdome Town Centre to its real estate portfolio, acquiring the South-East Queensland shopping complex from QIC for $678.7 million.

Macquarie Asset Management has made an offer to acquire Qube which values the infrastructure giant at $11.6 billion.