Deals

Rio Tinto has agreed to sell its majority stake in a New South Wales copper and gold mine to a Chinese firm.

A Perth supplier of industrial water systems backed by local executives Peter Hood, Andy Byk, Gary Steinepreis and Tom Henderson, has continued its rapid growth with an acquisition in Queensland.

Perth mid-tier accounting firm RSM Bird Cameron has increased its focus on the Queensland market by merging with MHM Accountants in Brisbane. The deal which will see 30 staff from MHM join RSM Bird Cameron is the most recent of several acquisitions after RSM acquired businesses in Port Lincoln, South Australia and Ballarat, Victoria.

Australia's biggest owner of natural gas pipelines APA Group has approached leading natural gas distributor Envestra Limited about a merger proposal.

Virgin Australia has completed the purchase of a 60 per cent stake in Tigerair Australia.

Forge Resources has picked up $8.5 million by selling a part of its stake in the Balla Balla magnetite iron ore project in the Pilbara to its joint venture partner, New Zealand’s Todd Corporation.

Charter Hall has bought a shopping centre in Perth’s southern suburbs for $33.2 million.

Paladin Energy shares fell by more than 10 per cent after it delayed until August a deal to sell a stake in an African uranium mine.

Fast-growing Geraldton business Bhagwan Marine has expanded its service offering and geographical presence through the acquisition of a Northern Territory marine services business.

A further $9 million has been wiped from the market value of Elders after it rejected an offer to buy its rural services business.

Employment services firm Skilled Group will pay $75.5 million for a Darwin-based marine contractor focused on the oil and gas sector.

Three directors of takeover target Firestone Energy have resigned, leading to the withdrawal of a shareholder meeting requisition by bidder Waterberg Coal Company.

Debt-laden Elders has received at least one formal bid for its main rural services business and is working on securing a sale, following eight months of negotiations.

Rio Tinto has agreed to sell its Eagle project in the US to Lundin Mining Corporation for an estimated $US35 million ($A37 million) in cash.

The capital strike hitting the resources sector risks doing long-term damage to the industry’s growth prospects.

Share market operator ASX is raising $553 million to fund growth by issuing new shares to existing shareholders.

Wesfarmers chief executive Richard Goyder is hopeful the conglomerate will seek out new acquisitions offshore in the years ahead.

Peet chairman Tony Lennon has lifted his interest in the land development company to 21.4 per cent after participating in a special placement tied to its takeover of east coast property company CIC

Subiaco company Kairiki Energy has cancelled a $12 million right issue that was “partially and conditionally” underwritten by Patersons Securities, after failing to achieve its minimum subscription

The Wyllie Group has realised a big profit on its six-year investment in Amcom Telecommunications, selling half of its total holding in the listed Perth company.

Embattled lithium producer Galaxy Resources has announced a deeply discounted $47 million rights issue to give the company a much needed cash injection.

Glencore Xstrata has scrapped plans for a coal export terminal in Queensland, citing excess port capacity and a worsening outlook for the sector.

Once seen as an attractive capital source for Australian companies, regulatory hurdles in Canada combined with depressed global markets have dampened enthusiasm for dual listings.

Former agricultural investment company AACL Holdings has decided its future lies with a technology business established by Perth entrepereneur Gavin Burnett.

BHP Billiton has sold a copper mine in the US for $US650 million ($A634 million) as the resources giant continues to off-load assets.

Troubled surfwear retailer Billabong has extended its exclusive takeover talks with the Sycamore consortium.

New Zealand's Restaurant Brands, which operates KFC, Starbucks, Pizza Hut and Carl's Jr fast-food brands, has dismissed speculation it might be in the running to buy 40 KFC stores in Western Austra

Shares in Sundance Resources plunged after resuming trade today, after it officially canned its $1.3 billion takeover deal with China's Hanlong Mining overnight.

Sundance Resources says it is concluding talks with suitor Hanlong Mining.

Shares in troubled retailer Billabong have been suspended indefinitely so it can continue takeover talks with two potential suitors.

Sundance Resources is likely to end its takeover talks with Hanlong Mining and look for another Chinese suitor.

Shares in Linc Energy fell more than 12 per cent after the company announced it has raised $200 million through a convertible bond issue.