Deals

Andrew Forrest’s private vehicle, Minderoo Group, has announced plans to invest up to $7.3 million in local miner Impact Minerals.

West Perth exploration company Leopard Resources has announced an agreement to acquire a Silicon Valley wireless technology business.

Bradken has sold its Bassendean engineering facility to Sydney property group Charter Hall in an off-market sale and leaseback deal worth about $32.8 million, while the Champion Drive Shopping Centre in Seville Grove has been sold for $13.5 million.

Perth exploration company BMG Resources (formerly Brazilian Metals Group) has announced a non-binding heads of agreement for the possible acquisition of Brisbane-based online fitness training accreditation business FitLink.

DVG Automotive Group managing director Lou Divirgilio has achieved a rare feat, selling a majority stake in his family business for $120.6 million, which equates to the kind of earnings multiple that only ASX companies normally attract.

Automotive Holdings Group had employed a consistent approach to buying and integrating dealerships over many years, long-serving director and head of business development Hamish Williams told Business News after his recent retirement.

Perth-based biotech company ResApp Health had a steady first day of trade on the ASX today, after being acquired by Narhex Life Sciences in an $11 million backdoor listing.

A group of Perth venture capitalists is backing plans by a local health scientist for an IPO of a new fitness-based business development, including a body-measuring app that is still on the drawing boards.

Local miner Metals X has reached an agreement with Northern Mining to acquire the Georges Reward gold project at Bulong in Western Australia for a cash sum of $4.5 million.

Talisman Mining has raised $8 million to fund ongoing work at its copper-gold and nickel projects.

Potash mining company Elemental Minerals has announced the completion of a $4.98 million private placement.

Perth-based gold miner Manas Resources has launched a $4.7 million capital raising plan to fund pre-development work at its Shambesai gold project in southern Kyrgyzstan.

Two local miners have announced plans to exit the resources industry and move into other fields, by way of backdoor listings.

Perth-based Zeta Petroleum will acquire a substantial shareholding in oil explorer Oilex, when the company completes a planned $US23 million ($A30 million) capital raising.

Local aquaculture firm Seafarms Group has announced plans to raise up to $16.6 million, with major shareholders Ian Trahar and Paul Favretto committing to a large portion of the raising.

South Australian construction and engineering company Ahrens has acquired Savannah Engineers for an undisclosed sum, expanding its existing Pilbara presence.

Automotive Holdings Group has bought all three Mercedes-Benz dealerships in Perth from Western Pacific Automotive for a combined $58 million.

Upwards of 130 corporate finance transactions worth more than $11 billion were announced in WA in the June quarter, but most notable was a handful of landmark M&A deals.

Brokerage firm Euroz is expanding its funds management offering, with the acquisition of Perth-based Entrust Private Wealth Management for around $7.8 million.

Gold and copper miner Geopacific Resources has launched a $23 million capital raising to fund an exploration program at its Kou Sa project in Cambodia.

Two local independent music-media rivals have announced plans to combine their businesses, leveraging off each other’s print and online strengths to create a single print masthead and online portal.

Subiaco-based biotech firm Phylogica has announced plans for a heavily discounted $10 million capital raising to fund development of its cancer treatment programs.

Struggling outdoor clothing and equipment retailer Kathmandu has caught the eye of a New Zealand homewares and sports retailer seeking a takeover.

An investment company chaired by Perth businessman Farooq Khan has made an off-market $8 million cash bid for full ownership of Strike Resources, and may seek opportunities for the business outside the resources sector.

Perth-based explorer Auroch Minerals has sold its Mozambique gold assets to Xtract Resources for a cash and share package worth $US12.5 million ($A16.3million).

DLA Piper has entrenched its positon as one of Western Australia’s top 10 law firms after confirming today it would absorb boutique corporate practice Hardy Bowen, with one notable exception.

Digital agency Titan Digital has absorbed brand agency One Brand, bringing One Brand managing director Martin Purcell in as the director of its new Titan Brand product.

Oil and gas explorer New Standard Energy has freed itself of debt after selling its Cooper Basin and US assets to Sundance Energy in a deal valued at $24 million.

Plans by Emeco Holdings to diversify and accelerate its growth through M&A deals have come to naught, after the mining equipment supplier announced today its agreed takeover of Perth company RentCo and its merger discussions with Queensland competitor Orionstone had both been terminated.

Two of Perth’s prominent business families have shed light on their future plans, after the Bennett family struck a deal to buy a marina operation in Fremantle from the Kailis family.

Bradken has received a merger offer from the Chilean consortium providing a $70 million lifeline to the troubled mining services provider.

Private equity group Auctus Chillagoe’s proposed takeover of Mungana Goldmines looks set to be defeated, with Mungana’s major shareholders announcing their intention not to accept the offer.