Deals

Potash mining company Elemental Minerals has announced the completion of a $4.98 million private placement.

Perth-based gold miner Manas Resources has launched a $4.7 million capital raising plan to fund pre-development work at its Shambesai gold project in southern Kyrgyzstan.

Two local miners have announced plans to exit the resources industry and move into other fields, by way of backdoor listings.

Perth-based Zeta Petroleum will acquire a substantial shareholding in oil explorer Oilex, when the company completes a planned $US23 million ($A30 million) capital raising.

Local aquaculture firm Seafarms Group has announced plans to raise up to $16.6 million, with major shareholders Ian Trahar and Paul Favretto committing to a large portion of the raising.

South Australian construction and engineering company Ahrens has acquired Savannah Engineers for an undisclosed sum, expanding its existing Pilbara presence.

Automotive Holdings Group has bought all three Mercedes-Benz dealerships in Perth from Western Pacific Automotive for a combined $58 million.

Upwards of 130 corporate finance transactions worth more than $11 billion were announced in WA in the June quarter, but most notable was a handful of landmark M&A deals.

Brokerage firm Euroz is expanding its funds management offering, with the acquisition of Perth-based Entrust Private Wealth Management for around $7.8 million.

Gold and copper miner Geopacific Resources has launched a $23 million capital raising to fund an exploration program at its Kou Sa project in Cambodia.

Two local independent music-media rivals have announced plans to combine their businesses, leveraging off each other’s print and online strengths to create a single print masthead and online portal.

Subiaco-based biotech firm Phylogica has announced plans for a heavily discounted $10 million capital raising to fund development of its cancer treatment programs.

Struggling outdoor clothing and equipment retailer Kathmandu has caught the eye of a New Zealand homewares and sports retailer seeking a takeover.

An investment company chaired by Perth businessman Farooq Khan has made an off-market $8 million cash bid for full ownership of Strike Resources, and may seek opportunities for the business outside the resources sector.

Perth-based explorer Auroch Minerals has sold its Mozambique gold assets to Xtract Resources for a cash and share package worth $US12.5 million ($A16.3million).

DLA Piper has entrenched its positon as one of Western Australia’s top 10 law firms after confirming today it would absorb boutique corporate practice Hardy Bowen, with one notable exception.

Digital agency Titan Digital has absorbed brand agency One Brand, bringing One Brand managing director Martin Purcell in as the director of its new Titan Brand product.

Oil and gas explorer New Standard Energy has freed itself of debt after selling its Cooper Basin and US assets to Sundance Energy in a deal valued at $24 million.

Plans by Emeco Holdings to diversify and accelerate its growth through M&A deals have come to naught, after the mining equipment supplier announced today its agreed takeover of Perth company RentCo and its merger discussions with Queensland competitor Orionstone had both been terminated.

Two of Perth’s prominent business families have shed light on their future plans, after the Bennett family struck a deal to buy a marina operation in Fremantle from the Kailis family.

Bradken has received a merger offer from the Chilean consortium providing a $70 million lifeline to the troubled mining services provider.

Private equity group Auctus Chillagoe’s proposed takeover of Mungana Goldmines looks set to be defeated, with Mungana’s major shareholders announcing their intention not to accept the offer.

Altona Mining has signed a joint venture agreement with a Chinese construction group for its Cloncurry copper-gold project in Queensland, with the partner to contribute $US214.5 million ($A278.1m) towards the project.

More than 94 per cent of Atlas Iron shareholders have voted in favour of the company's proposed $180 million capital raising, which is designed to ensure its longer-term viability.

Programmed Maintenance Services’ six-month pursuit of its larger competitor, Skilled Group, has paid off, with the Melbourne-based company backing a $424 million takeover offer.

Online property rental company rent.com.au has commenced its first day of trading on the ASX, after being acquired by Select Exploration in a backdoor listing.

Phoenix Gold has taken a planned vote on an alliance with Evolution Mining off the agenda of its general meeting, being held today, after Zijin Mining Group made a play to take ownership of the company in a cash deal worth $47 million.

The tussle for control of Phoenix Gold intensified today after Zijin Mining Group struck a pre-sales agreement with one of the miner's largest shareholders, boosting its interest to 17.9 per cent ahead of announcing a cash takeover bid that values the business at $47 million.

Perth-based Programmed Maintenance Services is set to strike a long-awaited takeover deal with labour hire company Skilled Group, with both companies entering into trading halts this morning ahead of a formal announcement.

Rutila Resources and Lemur Resources have both received ticks of approval by independent experts for their respective off-market takeover offers by foreign bidders.

Perth-founded technology business MOKO Social Media has raised $6.8 million through the exercise of share options.

Local miner Western Areas has expanded its operations portfolio with the acquisition of Glencore Xstrata’s mothballed Cosmos nickel project in the Agnew Wiluna belt, for $24.5 million.