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Volkswagen and
Audi will soon be managed from under the same roof, with the two companies announcing they will
combine operations in Australia.
While most Volkswagen Group brands – which include Bugatti,Bentley,Lamborghini, and Porsche – are traditionally run as separate entities, this latest move means local decisions about the company s most popular passenger vehicles will be centralised.
Audi joins Volkswagen cars, Volkswagen commercial vehicles, and Skoda as an integrated corporate operation. From a Skoda Fabia city car all the way to Audi s R8 supercar . Volkswagen Group Australia will be class-leading in all aspects of the automotive market in which it competes, Volkswagen Group Australia boss Managing Director Michael Bartsch said at the announcement.
UBS asks wine types to taste test Villa Maria Estates
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Fancy affordable Kiwi plonk? Tee up a drink at UBS.
The Swiss bank is confidentially courting trade and private equity buyers for New Zealand’s most awarded winery, Villa Maria Estate.
UBS is in the market for Villa Maria Estates.
It is understood UBS is formally mandated to find Villa Maria a new investor or new owner and has a handful of interested parties counting barrels and tasting wine as part of a two part auction.
Sources said the auction was into the second and binding bid phase, and has included participation from some well known Australian private equity players to date.
News
The ACCC has granted interim authorisation for Vintage Energy Ltd (ASX:VEN), Metgasco Ltd (ASX:MEL) and Bridgeport (Cooper Basin) Pty Ltd to enter into joint marketing arrangements.Read Full Article▸
Asian Activities Report for October 5, 2011 includes: Stonehenge Metals Limited (ASX:SHE) has commenced a preliminary pit optimisation to help identify key areas for resource upgrade; Robust Resources Limited (ASX:ROL) has completed an acquisition of copper-gold exploration assets in the Philippines; New Hope Corporation Limited (ASX:NHC) will commence a formal process to invite selected parties to submit takeover proposals to the Board for its consideration; Avenue Resources Limited (ASX:AVY) has entered into a conditional agreement to acquire 100% of the issued shares in Triumph Tin Mining Limited; Plentex Limited (ASX:PRM) has signed a conditional agreement for the acquisition of all the shares in Organic Fuels Algae Technologies LLC.Read Full Article▸
In the media
PCA: HomeBuilder the workhorse of economic recovery
The success of the Federal Government s HomeBuilder grants program demonstrates the power of residential construction in supporting jobs and driving economic activity. According to new figures from Treasury, more than 75,000 households have applied for the HomeBuilder grant with around 80 per cent of these for new construction (20 January 2021). More.
Managing large-scale construction projects to avoid cost overruns
Researchers from the University of Stavanger, University of Melbourne, and University of Wisconsin-Madison have published a new paper in the Journal of Marketing that examines how major projects undertaken by temporary organisations can be better managed so that cost overruns are minimised. Such cost overruns are a common outcome of major engineering and construction projects (19 January 2021). More.
Bega Cheese Completes $534 Million Deal Bringing Iconic Brands Back to Australia
Bega Cheese paid $534 million (US$413 million) for the company from Japanese beverages giant Kirin Holdings.
Bega’s Executive Chairman Barry Irvin confirmed the news in an investor update (pdf) on Monday.
“Today is a significant day in the history of Bega, the acquisition of Lion Dairy & Drinks doubles the size of the company with revenue of $3 billion and brings together great brands including Bega Cheese, Vegemite, Dare, Farmers Union, Dairy Farmers, Yoplait, B honey, Big M, Masters, Juice Brothers and Berri,” Irvin said.
“This goal of creating a great Australian food company with the capacity to service our customers in Australia and around the world took a major step forward today,” he said.