☕ 1 to $1.1bn

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MARKET MOVERS

*Stock data as of the market close. Commodities and crypto data in USD.

Market news: As the AFR put it... from one petrol station to a $1.1b payday.

Viva Energy, which owns about ~1.4k Shell petrol stations, forked out $1.1bn to buy the family-owned On The Run retail network of 205 convenience stores. 

On The Run was owned by the Shahin family — who have grown their business Peregrine Corporation from one petrol station in 1984 to become the largest privately held company in SA.

THE QUICK SYNC

• Russian hackers leak Crown casino data on web. (The Australian)

• Return to office standoff: coming soon to a workplace near you. (AFR)

• Inside Origin Energy’s $18.7b private capital job. (AFR)

• Chamath Palihapitiya's 2022 Annual Letter. (Source)

• Swiss regulator argues they faced a full-scale bank run if Credit Suisse went bankrupt. (CNBC)

• Bragg’s case against Trump far from a slam dunk. Yet. (SMH)

TRADING FLOOR

 M&A:

• Grant Samuel gets a takeover approach from an international firm and is considering a 50% stake sale. (AFR)

• Antony Catalano and Alex Waislitz’s newspaper business is preparing to sell or shut down more than 13 mastheads. (SMH)

• Viva Energy acquires OTR Group from the Shahin family-owned Peregrine Corporation for $1.15bn. (AFR | AFR | The Australian)

  • Clifford Chance and Gilbert + Tobin on the acquisition of OTR Group. (AFR)

• Humanforce wins the takeover battle for IntelliHR as The Access Group withdraws. (AFR)

• Estia Health opens books to Bain Capital after rejecting its initial $775m offer. (AFR)

• Endeavour Group purchased a minority stake the eSports venue company Fortress. (AFR)

• Shaw and Partners analysts follow Mincor’s lead and advise shareholders to accept the $752m buyout proposal. (The Australian)

  • BHP’s secret nickel clause provides Mincor termination rights. (AFR)

  • Andrew Forrest is suspected to be keen to back out of his $752m proposal to buy nickel miner Mincor. (The Australian)

• PEP and Macquarie are understood to be in final talks to buy TPG Telecom’s Vision Network. (The Australian)

Capital Markets:

• High airfares to kill airline mergers and see Bain push on with Virgin Australia IPO. (The Australian)

VC:

• Jigspace, an AR startup, has raised $5.2m led by Rampersand and included Investible and Vulpes. (The Australian)

• Modo, a mental health startup, has raised $800k in a round that included Archangel Ventures, Black Sheep Capital, Giant Leap Fund and LaunchVic‘s Alice Anderson fund. (The Australian)

• Art Money, an art investing platform is in the final stages of a funding round led by HNWI. (AFR)

Others:

• None

TOGETHER WITH ALLIANCE ADVISORS

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We go beyond, from development to execution of bold, client-first strategies, resulting in winning outcomes.

For more information, please contact Brendan Henry on [email protected]

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