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Deals

AGL to snap up Perth Energy in $93m deal

AGL Energy is set to continue its rapid expansion into the WA market, after it struck a deal to purchase WA’s third-largest electricity retailer, Perth Energy, for up to $93 million.

$147m figure revealed for Wood & Grieve purchase

Canadian company Stantec has disclosed it paid C$135.8m ($147 million) for Perth-based Wood & Grieve Engineers, which it acquired in March, nearly 60 years after the Perth-based company was established.

AMP to raise capital after $2.3bn H1 loss

AMP has posted a $2.29 billon first-half loss on the back of a $2.35 billion impairment ahead of a large-scale overhaul of its slimmed down operations.

Serpentine to raise $7m

West Perth-based Serpentine Technologies is seeking to raise $7 million to fund its acquisition of K-TIG and enable growth of the company’s welding-as-a-service business model.

HBF sells Friendlies to Pharmacy 777

HBF has sold the Friendlies Pharmacy master franchise, under which 31 Western Australian pharmacies currently operate, to Pharmacy 777 and agreed to partner with the buyer to provide preventative health services to its members across the stores.

Wellard sells Swagman for $US25m

Heytesbury has been gazumped by a company from Luxembourg after it struck a deal to purchase Wellard’s M/V Ocean Swagman.

Juniors to raise $15m

WA-based juniors Titan Minerals, Coziron Resources, Galan Lithium, Anglo Australian Resources, and Big River Gold have announced share placement activity on the ASX today.

ACCC won't block Wesfarmers-Catch tie-up

The competition watchdog says it will not block Wesfarmers' $230 million acquisition of Catch.com.au operator Catch Group.

REX making market transition

A medical startup supported by Curtin University and angel investors led by Ian Brown has raised more than $1 million, shining a light on the commercialisation process for university technology.

Juniors to raise $32.5m

Liontown Resources, Genesis Minerals, Peak Resources, and Marindi Metals have all made capital raising announcements today as they seek to advance exploration projects.

Botanix raises $40m

Botanix Pharmaceuticals is set to raise $40 million via a share placement, less than two months after it released studies suggesting its cannabis compound could be used as an antimicrobial to mitigate superbugs.

Lithium boom running out of charge

A $1 billlion-plus lithium refinery planned for the Pilbara has been put on hold and a second refinery under construction in the South West has been reduced in size as local company Mineral Resources and its US partner restructure their joint venture after a sharp fall in lithium prices.

Resolute launches $US274m takeover offer

Perth-based gold producer Resolute Mining is adding a fourth mine to its portfolio after striking an agreement to acquire privately owned Toro Gold, which owns the high-margin Mako mine in Senegal.

Greenland raises $7m

Greenland Minerals has secured $7 million via a share placement, with the funds raised to advance the development of its Kvanefjeld rare earths project.

Silver Lake to acquire EganStreet for $52m

Silver Lake Resources is set to acquire EganStreet Resources in a scrip deal worth $52 million, as the gold miner seeks to bolster its Deflector operations with a new ore source.

Juniors raise $7.3m

Kingwest Resources has raised $4 million via a share placement, while St George Mining has also completed a share placement, raising $3.3 million.

Zenith recovers from large shortfall

Zenith Energy has raised $4.8 million via a shortfall placement, having raised just $220,000 in a share purchase plan last month.

Babylon acquires Qld outfit

Resources services provider Babylon Pump & Power has entered into a conditional agreement to acquire diesel engine specialist Primepower Queensland for up to $4.2 million.

Wodgina sale gets Chinese green light

Mineral Resources has secured Chinese regulatory approval for its $US1.15 billion Wodgina stake sale, and was the best performer among the ASX 200 today, despite the miner also releasing weak quarterly results.

Aurora abandons Yowie takeover bid

Aurora Capital has abandoned its planned takeover of Yowie Group and says it would instead support winding up the Australian chocolatier if management cannot plot a convincing near-term turnaround strategy.

Allegro to invest in PRC

Australian private equity firm Allegro Funds says it will make a significant investment in Western Australia’s largest diagnostic imaging provider, Perth Radiological Clinic, the latest in a string of deals for the sector.

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