Good evening,

Superannuation giant AustralianSuper is set to invest $175 million into listed Western Australian potash hopeful BCI Minerals, as part of a near $400 million funding package.

The funds, which are composed of a $240 million placement, a $100 million convertible note, and a share purchase plan, will help get its Mardie salt and potash projects up and running.

Alongside AustralianSuper will be Kerry Stokes’ Wroxy Pty Ltd – part of the billionaire’s Australian Capital Equity – which should see it keep its stake at almost 37 per cent.

Elsewhere, the likes of Matt Tripp, Entain and Tabcorp are expected to have made bids for WA TAB; beauty brand Coco & Eve wants a backer to help fund its expansion; LGIAsuper’s CIO Troy Rieck is set to exit and senior investment banker Wayne Kent has resigned as vice-chairman of Credit Suisse Australia.

Happy reading,

Anthony Macdonald, Yolanda Redrup and Kanika Sood,

Street Talk editors