Selling the farm

The sale of 16 private businesses worth an estimated $500 million helped to sustain activity in what was otherwise a depressed market for mergers and acquisitions in the September quarter in Western Australia.

The past year has been tough for listed WA companies looking to raise funds but a lift in activity during the past three months has the industry cautiously optimistic.

A $93 million private merger funding for City Farmers’ expansion sets the pattern for WA companies in a tight capital investment market.