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Latest articles in Australia

AU : Over The Wire - ABB bid becomes firm at $5.75 (cash and/or scrip)

After undertaking exclusive due diligence Aussie Broadband (ABB:ASX) has made a firm offer for OTW at $5.75 per share. The offer values OTW at 11.8x FY22 EBITDA (based on OTW’s guidance and FY21 net debt) or 10.6x using FY22 EBITDA and Morgans E for....
CGS-CIMB Nick
Nick harris @ CGS-CIMB 2 December 2021

AU : Credit Corp - Stay tuned in

CCP has acquired the Radio Rentals consumer leasing assets from TGA for ~A$45m, funded via cash. The acquisition is primarily of the existing lease book, which is expected to produce CCP’s targeted return. The business operating assets will also be.....
CGS-CIMB Scott
Scott Murdoch @ CGS-CIMB 30 November 2021

AU : Australian Finance Group - Further acquisition potential beyond Fintelligence

AFG has announced the acquisition of a 75% stake in asset finance aggregator National Finance Alliance Pty Ltd, trading as Fintelligence. We expect the acquisition to be ~5.5% EPS accretive pre synergies. Whilst we are not building any synergies int....
CGS-CIMB Azib
Azib Khan @ CGS-CIMB 30 November 2021

AU : GrainCorp - ABARES upgrades the crop again

ABARES has upgraded both its 2021/22 winter and summer crop forecasts (FY22 earnings). ABARES forecast implies an east coast grain crop which is slightly lower than the FY21 record crop. However, going by past practice, there is still the potential.....
CGS-CIMB Belina
Belina Moore @ CGS-CIMB 30 November 2021

AU : Collins Foods - A feast for investors: 1H22 earnings

CKF’s 1H22 EBITDA was 12% higher than forecast at $94.9m, with better margins in KFC Australia and, notably, KFC Europe driving the outperformance. Although SSS growth was zero at KFC Australia (against a +12% comp) and slightly lower than our +1% f....
CGS-CIMB Alexander
Alexander Mees @ CGS-CIMB 30 November 2021

AU : Spark Infrastructure - Cessation of coverage

We cease coverage of Spark Infrastructure (SKI) following completion of its takeover by an entity owned by funds managed and advised by Kohlberg Kravis Roberts & Co, Ontario Teachers’ Pension Plan Board, and Public Sector Pension Investment Boar....
CGS-CIMB Nathan
Nathan Lead @ CGS-CIMB 29 November 2021