Deals

The new management team at accounting firm Lawrence Business Management has agreed to buy the business for $7.3 million cash from listed company Countplus, after two years of restructuring.

Perth-based gold explorer Primary Gold will raise up to $2.4 million for its Toms Gully mine at the Mt Bundy gold project in the Northern Territory with its appointed lead manager Patersons Securities to underwrite up to $1 million to the rights issue.

Bulletin Resources has enlisted its major shareholder Matsa Resources to acquire up to a 75 per cent interest for its Halls Creek gold projects in a $4.4 million binding term sheet.

Wesfarmers has announced its second significant asset sale this month, with the disposal of the Australian and New Zealand underwriting operations of its insurance business to Insurance Australia Group (IAG) for about $1.85 billion.

Liquefied Natural Gas Limited has raised nearly $11 million to progress development at its Magnolia LNG project in Louisiana, while at the same time announcing it had appointed BNP Paribas as its p

Perth-based GR Engineering Services has diversified from mining into the oil & gas sector, with the purchase of Melbourne company Product Solutions for $5.75 million.

Diversified conglomerate Wesfarmers has sold off its 40 per cent stake in industrial gas producer Air Liquide Western Australia to its national counterpart, Air Liquide Australia, for a profit

Shares in Perth-based oil and gas explorer Kinetiko Energy have tanked after the company emerged from a trading halt with news of a heavily discounted share placement.

Admedus, formerly Allied Healthcare, has struck a deal to acquire a manufacturing site that pharmaceutical giant Sanofi built in Malaga in 2009.

ThinkSmart shares have shot up 39 per cent upon its announced agreement to sell its Australian and New Zealand businesses to financial services company FlexiGroup for $43 million to shift focus to its operations in the United Kingdom.

Engineering and construction company VDM Group will look to strengthen its balance sheet through an $18.7 million capital raising, with the company's major shareholder H&H Holdings contributing $9 million to the finance boost.

South Perth-based Alcyone Resources is on the hunt for new investment opportunities after securing a $25 million credit facility with New York investment management firm Platinum Partners.

Cash Converters has acquired four franchised stores in Victoria and one in New South Wales for approximately $4 million dollars, inclusive of $1.8 million in assets, bringing the total number of corporate-owned stores in Australia to 61.

Subiaco-based gold explorer Ampella Mining has recommended its shareholders approve a proposed $41 million off-market takeover bid from Egypt-focused miner Centamin.

New Standard Energy plans to diversify its interests in the oil and gas sector by completing a farm-in agreement in the Cooper Basin in South Australia and acquiring 5,182 acres in a Texas oil shale asset.

Seven Group Holdings subsidiary WesTrac China will pay $US130 million ($A143 million) to acquire Caterpillar Global Mining's distribution and support business in north eastern China.

Verve Energy’s Jason Waters will become chief executive of the new merged Synergy and Verve entity.

Gindalbie Metals has agreed to sell its Shine hematite iron prospect to Mount Gibson Iron for $15 million as it focuses attention on bringing its Karara magnetite project to full production.

Triton Minerals has raised $1.6 million to fund its exploration activities at the Balama North graphite project in Mozambique.

Perth-based oil explorer Oilex has announced it has secured a $13.5 million three year equity financing facility with UK-based Darwin Strategic, for drilling at its Cambay onshore oil joint venture project in Gujarat, India.

Global chemical manufacturer Rockwood Holdings is set to acquire a 49 per cent stake in Perth-based Talison Lithium, just less than a year after its proposed $700 million takeover bid for the miner collapsed.

Mineral sleuth Rox Resources has raised $2.4 million for exploration programs and working capital in a share purchase plan, the company announced today.

Tangiers Petroleum is to acquire Jacka Resources via a friendly off-market takeover bid, combining to create an Africa-focused upstream oil and gas company valued at about $80 million.

Oil and gas explorer WHL Energy has secured a one-off $US2.7 million loan from New York-based institutional investor Bergen Global Opportunity Fund.

Pura Vida Energy has made further progress for its African offshore oil projects, and announced a placement raising $13.5 million.

South Perth company Brighton Mining Group has announced plans to acquire Indonesian manganese miner Asia Minerals Corporation, which is led by Perth mining entrepreneur Michael Kiernan and counts another South Perth company, Gulf Mines, as a substantial shareholder.

GDI Property Group and Charter Hall have formally launched investment offers this week, giving wholesale investors an opportunity to buy a stake in two major Perth office buildings.

Nedlands company Advanced Geomechanics is hoping to extend its reach into the global subsea engineering market following its directors’ decision to sell the business to Dutch multinational Fugro.

Treasurer Joe Hockey's blocking of a $3.4 billion foreign takeover of grains handler and marketer GrainCorp will have implications for the whole agricultural industry, the company says.

Queensland-based food group Collins Foods will pay $55.6 million to acquire Competitive Foods’ KFC business, which is the franchisee of 44 KFC restaurants in Western Australia and the Northern Terr

Perth-based Hazelwood Resources will look to raise up to $7 million to accelerate production at the ATC ferrotungsten joint venture facility in Vietnam, in which it has a 60 per cent stake.

Perth stockbroking firm DJ Carmichael has acted as lead manager to a $4.4 million capital raising by oil and gas explorer Rampart Energy.