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.

A Dexus managed fund has paid $683 million to Scentre Group to increase its stake in Brisbane's Westfield Chermside shopping centre.

Mayne Pharma says it, and not US drug maker Cosette, has terminated their $672 million merger agreement and that it is therefore not on the hook for a break fee.

Advised by Johnson Winter Slattery, Morrison-managed investment fund Utilities Trust of Australia has bought out a Canadian pension fund for full ownership of the Sydney Desalination Plant.

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. 

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. 

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