AP Eagers has increased its interest in Automotive Holdings Group by 9.15 per cent, as the takeover target appointed a former KPMG and Ernst and Young partner as its new chairman.
As editor of Business News, I'm delighted to introduce a new feature that highlights the best of Western Australia. Great for the State is a 12-page lift-out that will be published each month over the course of 2019.
Perth-based Matthew Woods will be the joint leader of KPMG's greatly expanded insolvency practice after the 'Big 4' accounting firm finalised a deal to acquire Ferrier Hodgson. The merged entity will have 27 partners nationally and be the largest practice in WA.
The federal government has today announced new and renewed appointments to its Takeovers Panel including Perth-based John McGlue, Shirley In't Veld and Denise McComish.
Menswear retailer Ed Harry, which employs 93 staff across 19 stores in Western Australia, has been placed in voluntary administration with an immediate clearance sale of merchandise coming into effect as creditors assess the business.
PwC has joined KPMG, BIS Oxford Economics and Investec in winning advisory work on the partial privatisation of Landgate – with each adviser securing increasingly large contracts.
Medical device startup JR-TeCH has won first prize at last night's 2018 Perth Biodesign Pitch Night, producing a wearable technology for above-knee amputees.
Fremantle-based seafood wholesaler and jewellery manufacturer MG Kailis Group has achieved its second consecutive year of profits, after a decade of losses, despite a 14 per cent fall in revenue.
SPECIAL REPORT: Gold Corporation, Alcoa, Roy Hill and Chevron have all posted higher revenue numbers in Business News' annual analysis of WA's biggest exporters.
Gold producer Resolute Mining has appointed Sabina Shugg as a non-executive director, while new data from the Australian Institute of Company Directors has revealed an uptick in female participation on ASX 200 boards.
SPECIAL REPORT: Accounting firms in WA, from mid-tier players to the 'big four', are positioning to benefit from stronger economic and commercial activity.
SPECIAL REPORT: Business News has been tracking changes among WA's accounting firms for 25 years, including seminal events like the collapse of Andersen and the break-up of the old PKF practice.
Zenith Energy has completed a $40 million issue of subordinated debt notes through FIIG Securities, with the proceeds to be used for refinancing existing debt, capital expenditure and acquisitions.
The $50 million On the Point hospitality precinct in East Perth has suffered a major setback after its anchor tenant was placed in administration but other restaurants and bars at the riverfront property are set to continue trading.
Australia outperformed most other jurisdictions as a destination for Chinese direct investment in 2017 despite a fall in flows and declining confidence in the country as a safe location for capital, according to KPMG.
King & Wood Mallesons Partner Nathan Collins, who was involved in the debt restructuring of troubled uranium miner Paladin Energy, says the deal, which left existing shareholders with a 2 per cent stake, was the only real option for the company.
Saracen Mineral Holdings managing director Raleigh Finlayson has received the top honour at Business News' 2018 40under40 awards, named First Amongst Equals ahead of a diverse field of Western Australia's young business and community leaders.
Three high-profile business people have resigned from the board of Perth Modern School, just weeks after two other board members did not seek re-election, as the fallout from a governance dispute and a review by KPMG continues.
Uranium miner Paladin Energy has confirmed the approval of its recapitalisation deal, which will leave existing shareholders with a 2 per cent stake in the company, and appointed Daniel Harris and David Riekie to the board.
ASX-listed AnaeCo has gone into administration after Monadelphous Group terminated an $11.5 million contract with the waste technology company and a Chinese enterprise.
Shareholders in uranium miner Paladin Energy will end up owning just 2 per cent of the company under a recapitalisation plan that will include a major debt for equity swap and a $US115 million high yield secured note raising.
The Foreign Investment Review Board will not oppose the sale of the Ten Network to CBS, leaving one last obstacle to the takeover of the troubled free-to-air broadcaster by the US media giant.
The way GST revenue is carved up among the states needs a proper fix, rather than more "band-aids and bolt-ons", federal Treasurer Scott Morrison says, but politicians from states winning from the existing distribution are set to oppose change.
Two of the largest contracts held by fallen Perth company Brierty have been terminated, as uncertainty hangs around the company's future after last week's appointment of administrators.
The state government has appointed Infrastructure Australia board member Nicole Lockwood to chair a new taskforce to plan a Kwinana outer harbour development, as Transport Minister Rita Saffioti indicated she would stare down internal party dissent about the project.
Troubled civil construction and mining services business Brierty has been placed in voluntary administration after failing to secure what it considered to be an adequate pipeline of future work.
The restructuring of Paladin Energy has taken a surprise turn after Chinese group CNNC Overseas Uranium Holdings advised it would not exercise an option to buy the Langer Heinrich uranium mine.
The administrators of Paladin Energy have entered into an agreement with Deutsche Bank to refinance some of the troubled uranium miner's debt and fund ongoing work at the Langer Heinrich mine in Namibia.
Paladin Energy says it is entitled to receive about $US416 million for its majority stake in the Langer Heinrich uranium mine in Namibia, following an independent evaluation of the asset.
