Deals

Otto Energy says the sale of its Galoc oil field assets in the Philippines to Singapore-based energy company Risco Energy Investments for $113.4 million will help fund exploration activities for two years and return capital to shareholders.

Private equity players are at the heart of a second major Perth-based food franchise deal within 12 months, with Malaysian private equity firm Navis Capital Partners reacquiring a majority stake in Dome Coffees at a price estimated to be at least $50 million.

Iron Ore Holdings confirmed today that its second-largest shareholder 3rd Wave Investors, Brettney and Annie Fogarty's investment vehicle, has accepted BC Iron's $256 million takeover bid for IOH.

Two Perth-based minerals explorers announced today that their placements had received commitments from investors, worth a combined $3.6 million in total.

Cardinal Resources has completed its bid for $900,000 of capital from sophisticated and professional investors, with additional rights issue shares yet to become available to eligible shareholders.

Wesfarmers-owned Coles has received approval from the Australian Competition and Consumer Commission for its proposed acquisition of three Metcash-owned Progressive Supa IGA supermarkets, but is yet to make a decision on the fourth.

Shares in iron ore and steel maker Arrium have dived more than 38 per cent in response to its $754 million capital raising.

Neon Energy chairman Alan Stein has warned the company's shareholders against taking any action towards a takeover bid it received earlier in the month.

King River Copper has announced it would seek to raise $900,000 for further exploration of its Kimberley tenements, with phase two of its drilling expected to recommence next week.

Black Fire Minerals has entered into a sale agreement for its Pilot Mountain tungsten project in the US state of Nevada to South Australian-based Thor Mining for about $1.67 million.

Azumah Resources has secured $1.2 million in funding for its Wa gold project in Ghana through a placement to existing shareholder, Caitlyn Limited.

BCP Energy International has successfully reached its revised target of 50.1 per cent relevant interest in its takeover of Nido Petroleum, and has made the offer unconditional.

Shareholders of Africa-focused Papillon Resources voted almost unanimously in favour of a $615 million takeover by Canadian-based B2Gold at a scheme meeting held this morning.

A joint venture between Viento Group and indigenous-owned Kimberley Pipelines has been awarded a $9.8 million pipeline construction works contract for the first stage of Fortescue Metals Group's North Star magnetite project in the Pilbara..

Iron ore miner and steelmaker Arrium is seeking to raise at least $754 million through the issue of new shares, to reduce debt amid falling prices for iron ore.

Subiaco-based explorer Aspire Mining has announced a $2.2 million placement to sophisticated investors for drilling at its Nuurstei coal project in northern Mongolia.

Manas Resources has announced plans to raise $850,000 to fund pre-development work at its Shambesai gold project in the Kyrgyz Republic.

Perth-based national IT services provider Empired has expansion in its sights, after completing a $10.5 million capital raising on the back of strong year-end profit results.

BC Iron is one step closer to completing its $256 million takeover bid for the Kerry Stokes-backed Iron Ore Holdings, after major shareholder Australian Capital Equity yesterday accepted the offer.

Perth-based contractor OTOC has secured $10 million in funding to pursue its national expansion, through a 20-cent placement of 50 million shares.

Freight operator Aurizon has received exclusive rights to develop the rail and port infrastructure for a major Pilbara iron ore project in which it is a partner.

Cardinal Resources has announced a $1.6 million placement and non-renounceable rights issue of options to raise funds for continued exploration of its West African mines.

Gold producer AngloGold Ashanti has announced plans to separate its South African assets from its international mining assets through London-listed NewCo, whilst contemplating a rights issue to raise $2.3 billion to fund the restructure and pay off debt.

Perth minerals explorer Gunson Resources has agreed to acquire a 100 per cent interest in mineral sands firm Strandline Resources for $2.5 million, and will assume the name of its target as it expands its focus in offshore assets.

Perth explorer Promesa says it will place up to 40 million shares at 2.5 cents per share to raise $1 million.

Perth civil engineering contractor Macmahon Holdings has secured a $317.5 million three-year funding facility, upsized from $280 million after the book-build closed oversubscribed.

IMX Resources has sold its iron ore operations in South Australia to Perth-based Cu-River Mining for $3.68 million, shifting its focus solely on its Tanzanian projects.

Construction contractor Brierty has declared a fully franked special dividend of 8 cents per share, while resolving to raise up to $8.25 million through a 16.5 million share placement.

Sunbird Energy has announced a deal with Vandasia Investments under which the gas explorer and developer will secure a $25 million cash injection and a new major strategic partner.

Aberdeen-headquartered energy services firm Wood Group PSN has won a contract with Woodside to provide engineering and construction management services at its Karratha Gas Plant Life Extension program, for an undisclosed amount.

Engineering and maintenance firm WorleyParsons has acquired US-based hydrocarbons management consultancy MTG for an undisclosed sum.

Chrysalis Resources has entered into a deal to grant Fortescue Metals Group exclusive exploration access and an option to buy the Chrysalis West Angelas Project Tenements.