|
| Thursday January 12, 2023 |
|
|
|
|
|
With no secured debt to speak of, two solvent Rich Listers on its register and a $30 billion ambition for a 4500km underwater cable connecting Darwin and Singapore, this is as odd as a voluntary administration process can get. |
|
It should also be a quick one because both Andrew Forrest and Mike Cannon-Brookes are keen to be on the scene. Just not on the current terms of funding and management. Administrator FTI Consulting should have a flyer out in a few weeks plus an investment bank beauty parade under way. |
|
It’s a slight change of plans for the bankers at Macquarie Capital and Moelis. They’ve been working on drumming up the said $30 billion from pension funds and infrastructure giants but now would be in the box seat to run Sun Cable’s sale or recapitalisation. |
|
|
|
Over at Nitro Software, both bidders are now at the Takeovers Panel, which is yet to decide if it’s conducting proceedings on either. Alludo wants Potentia to clarify its funding, while Potentia wants due diligence. The stock has traded steadily above $2.15, the higher of the two bids on the table. |
|
|
We return to regular programming from Sunday. |
|
|
Sarah Thompson, Anthony Macdonald and Kanika Sood |
|
|
|
Carbon trading infrastructure business Xpansiv has reeled in Bank of America and Goldman Sachs as debut investors alongside top-ups from Aware Super and others, as it rules off a $US125 million ($181 million) equity raising. |
|
|
A dramatic business falling out between billionaires Andrew Forrest and Mike Cannon-Brookes has resulted in the collapse of the company behind a $35 billion solar power export project. |
|
|
Goldman Sachs’ global cost-cutting drive has reached Australian shores. |
|
|
American private equity giant Blackstone has promoted two from its Australian team to the coveted managing director title after a busy year of dealmaking. |
|
|
The takeover battle for ASX-listed PDF tools provider Nitro Software is heating up. |
|
|
The investment bank has suspended the coverage of local real estate investment trusts as well as big listed property businesses after analysts moved on. |
|
|
Lithium partners IGO and Tianqi have crept into a new lithium province with a $136 million acquisition that might be the start of something bigger. |
|
|
Chile’s SQM, Wesfarmers’ partner in a big lithium project in WA, has moved to boost its footprint in the state. |
|
|
ASX-listed Eastern Goldfields miners and joint venture partners Pantoro Limited and Tulla Resources have initiated discussions to consolidate the ownership of their Norseman gold project under Pantoro’s umbrella. |
|
|
It marks the latest salvo in the battle for energy resources in Western Australia. |
|
|
Gina Rinehart’s Hancock Energy has again raised the stakes in the takeover battle for Warrego Energy, lifting its bid by 29 per cent. |
|
|
|
|
|