ANZ pays $88 million for stake in Vietnam broker
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Australia and New Zealand Banking Group  Ltd.  said on Monday it had acquired a 10 percent stake  in Vietnam&#39;s top stock broker Saigon Securities Inc.   for US$88 million, further boosting its Asian expansion.
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Telstra Corp.Â paid $254 million for a controlling stake in SouFun Holdings Limited, which runs one of China's largest real-estate and home improvement Web sites, the company said Thursday.
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(InfoWorld) - Telstra Corp.Â paid $254 million for a controlling stake in SouFun Holdings Limited, which runs one of China's largest real-estate and home improvement Web sites, the company said Thursday. Telstra, Australia's largest telecommunications company, now owns a 51 percent stake in SouFun, and plans to use the acquisition to beef up its advertising business in China. SouFun makes money by selling advertising on its Web site. Telstra's advertising arm, Sensis, will help manage SouFun going forward, the companies said in a joint statement. The deal is also part of Telstra'sÂ broader plan to expandÂ its Sensis business beyond Australia and carry its intellectual property and management expertise to new areas, the company said. The founder and chief executive officer of SouFun, Vincent Mo will remain in charge at the Web site and retain his 30.9 percent share of the company. SouFun's management team will remain in place after the deal, the company's said. SouFun, which is already cash flow positive, is expected to post revenue of A$52 million (US$39.7 million) in 2007, with a profit of A$18 million after excluding income tax, depreciation and amortization, according to the companies. IDG News Service is a member of the IDG group of companies, which includes IDG Ventures, a US$1.4 billion venture capital fund which holds a 14.7 percent stake in SouFun. SouFun can be found at: http://www.soufun.com/.
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Kerry Packer, Australia&#39;s richest man, has bought a stake in Stanley Ho&#39;s latest Macau casino development and the two have agreed to set up a joint venture to expand in Asia.
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Australian bank ANZ and Cambodia&#39;s Royal Group have teamed up in a $18 million venture that will bring electronic banking to the impoverished Southeast Asian nation, company officials said Tuesday.
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Morgan Stanley has agreed to buy a real estate investor, the Investa Property Group of Australia, for 4.7 billion Australian dollars ($3.9 billion) in cash. Including debt, the offer values Australiaâs biggest publicly traded owner of office buildings at 6.6 billion Australian dollars. The bid is subject to an independent expertâs report confirming that the offer is in the best interests of shareholders.
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Australian flag carrier and icon Qantas has received a takeover approach, potentially worth more than 8.0 billion US dollars and sending its share price soaring to record levels.
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Standard Chartered has agreed to buy US$1.5 billion (HK$11.7 billion) worth of loans from Australia and New Zealand Banking Group (ANZ) to beef up its project finance operation.
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Morgan Stanley&#39;s  real estate unit  agreed to buy Australia&#39;s Investa Properties Ltd.  for  A$4.7 billion ($3.9 billion) on Thursday, the nation&#39;s  third-largest property trust takeover.
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Qantas Airways Ltd. said that British Airways Plc will sell its 18.25 percent stake in the Australian flag carrier over the next 48 hours.
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HSBC has agreed to buy a 10 percent stake of a leading Vietnamese insurance company, as the global banking giant continues its Asian expansion strategy.
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Australian brewer Fosters buys 18.8% of winemaker Southcorp and reveals they are in talks, triggering takeover rumours.
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Brookfield Asset Management made a cash offer worth 4.2 billion Australian dollars ($3.55 billion) for Multiplex, a troubled developer and contractor.
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PERTH (Dow Jones)--Buoyed by one-off gains from the sale of property assets and a New Zealand department store business, Australasian retailer Foodland Associated Ltd.
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Australian mining firm WMC Resources says it is worth up to 30% more than a hostile $5.8bn takeover bid by Swiss rival Xstrata.
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Ping An Insurance (Group) Co. Ltd.   2318.HK, China's second-largest life insurer, plans to sell   up to 1.15 billion A-shares worth an estimated US$4 billion   (2.17 billion pounds) to replenish its capital.
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Alcoa Inc. is part of a three-company consortium that will buy a major natural-gas pipeline in Australia for $1.3 billion. The consortium, which includes Diversified Utility &amp; Energy Trusts (DUET) and Alinta