Yesterday
Billionaire Geminder mulls asset sales at struggling Pro-Pac business
Flagstaff Partners is part-way through a strategic review at ASX-listed Pro-Pac Packaging, which has shed $300m in market value.
This Month
Queensland brothers join private equity bid for campervan group THL
Private equity group BGH Capital and the Trouchet family have teamed up to lob a $471m bid for ailing campervan operator Tourism Holdings.
Car dealers face $2b hit from tougher fuel efficiency standards
The surging popularity of hybrid cars is a dilemma for manufacturers and dealers as they grapple with the government’s stricter fuel standards regime.
China Mengniu Dairy sheds $1b on Bellamy’s, reassures lenders
The Chinese dairy giant acquired the local infant formula business off the ASX for $1.5 billion in 2019. It has since wiped most of its value amid big losses.
Plug-in ute a game changer for BYD in Australia, says top exec
The new chief operating officer in Australia for the fast-growing Chinese brand says having the BYD Shark ute in the line-up has given extra credibility.
Cordial maker Bickfords lifts stake in struggling Maggie Beer Holdings
The Kotses family, which owns the cordials brand and the Beenleigh Rum and Beresford Estate liquor businesses, has been building its stake in the food producer.
Winemakers race to find a low-alcohol wine that passes taste test
Penfolds owner Treasury Wine Estates has spent $15m on new technology and a brand called Sorbet as wine tries to catch up with beer.
From stopping thieves in the GFC to running a $1b company, via The Star
Scott Wharton had an uneasy stint as CEO of The Star Sydney, but it was nothing compared with trying to stop office break-ins during the Lehman Bros collapse.
SA rules out taking equity stake in Whyalla steelworks
Treasurer Stephen Mullighan has made a $384 million provision in the budget because the sale process for the business is taking longer than expected.
Meet the ex-con behind this $400m private credit business
Kalpi Prasad is riding Australia’s private credit wave, drawing on a troubled past to serve clients who don’t fit neatly into traditional financing.
South Australian budget winners and losers
Whyalla residents and aspiring police officers are winners in the South Australian budget, but inflation is forecast to rise.
The company behind this $24,000 SUV just had its best month
Chinese carmakers accounted for four of the top-selling 15 brands in Australia in May, as more people become less worried about where their vehicles are built.
Pharmacy chain ‘underdog’ takes the fight to Chemist Warehouse
Peter Piliouras helped the billionaire Shahin family build On The Run, sold to Viva for $1.15b. He is now driving pharmacy expansion at Star Discount Chemist.
Wine market woes inflict more pain at Treasury, Vinarchy
Australia’s two largest wine groups are being forced to make some tough decisions to counter a global decline in consumption.
Brickworks merger drains ASX of last local building materials giant
Founded in 1934, the company joined the sharemarket in 1962 and is one of the last left after the buyouts of Boral, CSR and Adbri in the last year.
This Australian firm is set to win from Trump’s steel call
The US tariffs come amid a global oversupply of steel, with the OECD warning capacity will expand by 7 per cent by 2027, much of it in China.
May
James Hardie’s merger to deliver Azek CEO $30m
Azek shareholders in the US will vote on June 27 on the controversial $14b deal, with Azek boss Jesse Singh in line for a hefty payout.
‘I didn’t want to be a lawyer for my whole life’: Bubs chair Rathie
Katrina Rathie – a Chair of the Year in the inaugural Financial Review BOSS Director Awards – says being on a board is becoming more onerous and complex.
Bulldozers in the vineyards a poor omen for struggling winemakers
Bruno Brombal has seen plenty over his decades as a Riverina grape grower. But amid a never-ending wine glut, he says the best business to be in is excavation.
Elders will need to sell stores to secure $475m Delta Ag buyout
The competition regulator has concerns about a tie-up of the No.2 and No.3 players in farm supplies, saying farmers could face higher prices and less choice.