Search Results for:Ambar Warrick
The move is seen as a bid to improve economic relations with Washington while putting excess capital to better use.
The deal will create a media behemoth spanning print, TV, radio and a streaming business.
Capio rejected the bid saying the offer undervalued its business.
The offer potentially sets off a three-way struggle for the iron ore miner.
The transaction marks ANZ’ second disposal this month, after it sold a majority stake in a Cambodian joint venture to Japan’s J Trust.
The deal follows a similar trend among major Australian banks to trim their capital requirements, with peer Australia and New Zealand Banking Group exiting a Cambodian joint venture earlier this month.
Stating that both offers undervalue the company, Healthscope now plans to conduct a strategic review of its hospital property portfolio. It said it would look at the merits of a sale and leaseback transaction to unlock value for shareholders.
Macquarie Capital (Australia) and law firm Gilbert and Tobin have been appointed to assist with the sale.
Rio is also in the process of selling its remaining Australian coal asset – a stake in the Kestrel underground mine.
The deal could be worth about $1.1 billion, the Nikkei newspaper reported.