ATO ruling halts $508m auto deal

Perth investor Andrew Hopkins’ planned $508 million buyout of national panel beating business AMA Group has been cancelled after the group failed to get an expected ruling from the Australian Taxation Office.

Eve in $3m buy

Subiaco-based Eve Investments has purchased tea tree oil business Jenbrook in cash and scrip for about $3.4 million.

Marindi sells Pilbara gold asset

Marindi Metals has agreed to sell its Bellary Dome conglomerate gold project in the Pilbara to Canada-listed Pacton Gold in a cash-and-scrip deal worth up to $11 million.

Fleetwood sells caravan business for $1m

Perth-based Fleetwood Corporation has sold its struggling caravan manufacturing business, with the company forecasting an overall loss of up to $15 million on the deal.

Local tech firms raise $13m

Two local biotech companies have announced capital raisings today, with Botanix Pharmaceuticals tapping investors for $8 million, while Roto-Gro International has boosted its coffers with a $4.5 million raising.

Dreamscape makes $8m acquisition

ASX-listed tech company Dreamscape Networks has made its fourth acquisition in the past 16 months, purchasing a domain registration business for $8.5 million.

Rinehart lobs $390m offer for Atlas Iron

Gina Rinehart-led Hancock Prospecting has proposed a $390 million takeover offer for Atlas Iron, less than a week after purchasing a 19.9 per cent stake in the junior miner.

Grist set to chair Robo 3D

Perth investor Tony Grist is set to take charge of US-focused 3D printing company Robo 3D, which has announced the acquisition of a US software company operating in a related field and major cost cuts in its existing business as it seeks to achieve breakeven trading.

Ausgold raises $2m

Perth-based Ausgold has tapped investors for $2.4 million to fund continued exploration work at the company’s Katanning project.

MinRes strikes deal for Koolyanobbing

Mineral Resources has struck a deal to purchase the Koolyanobbing iron ore mine from US-based Cleveland Cliffs, after getting support from the state government and railway owner Arc Infrastructure for a deal that will save up to 400 jobs around Southern Cross and Esperance.

Vonex in $6m IPO

Local telco business Vonex started trading on the ASX today, after the company raised $6 million via an initial public offering.

Chinese group lobs $13bn offer for APA

The ownership of two major gas pipelines in Western Australia could change hands after a Chinese consortium proposed a $13 billion takeover of energy infrastructure giant APA Group, one year after the same consortium bought DUET Group, which owns the Dampier to Bunbury gas pipeline.

Gina Rinehart joins Atlas fray

Gina Rinehart’s Hancock Prospecting has acquired a 19.6 per cent shareholding in takeover target Atlas Iron, joining Mineral Resources and Fortescue Metals Group in the battle for control of the mid-cap iron ore miner.

WestStar wins work at $9m development

WestStar Industrial has secured a design and management contract for a mixed-use commercial property development in West Perth, while also announcing a $1 million capital raising.

Lithium Australia buys $3m German project

West Perth-based Lithium Australia has acquired a lithium-tin project in Germany from its joint venture partner Deutsche Rohstoff in a cash and scrip deal worth about $3.1 million.

GCS and SRG to merge into $332m group

Perth companies Global Construction Services and SRG have announced an agreed merger that brings together their contracting, construction and engineering services into a combined group with an expected value of $332 million.

Centurion in WA contract and acquisition deal

Transport and logistics business Centurion has secured a fuel haulage contract with Viva Energy and acquired contracts and vehicles from Perth-based Fuel Trans Australia.

Atlas shares soar after MinRes amends agreement

Mineral Resources has agreed to allow takeover target Atlas Iron to enter discussions with other parties, one day after the Andrew Forrest-chaired Fortescue Metals Group purchased a blocking stake in the junior iron ore miner.

Bannerman raises $8m

Uranium-focused Bannerman Resources has announced an $8 million capital raising to fund further studies on its Etango project in Namibia.

Nuheara in $6m raising

Local tech company Nuheara has tapped investors for $6 million, with the proceeds set to fund an increase in inventory levels of its noise cancelling earbuds.

Talisman sells Springfield stake in $72m deal

Sandfire Resources has reached an agreement to purchase Talisman Mining’s stake in the Springfield joint venture project in the Goldfields region for $72.3 million.