Latest news with #FIRB
Reuters
09-05-2025
- Business
- Reuters
US real estate firm CoStar to buy Australia's Domain in a $1.9 billion deal
May 9 (Reuters) - Australia's Domain Holdings ( opens new tab said on Friday U.S. online real estate firm CoStar (CSGP.O), opens new tab would acquire the property classifieds company for an implied enterprise value of A$3 billion ($1.92 billion). Under the deal, CoStar and its unit, which already owns a 16.9% stake in Domain, will acquire the remaining shares in the company at A$4.43 apiece, a 4.2% premium to the stock's last closing price on Thursday. Domain may also decide to declare a special dividend of up to A$0.10 per share, which will reduce the deal value by that amount, it said. The deal marks CoStar's first foray into the Australian market and could transform the landscape in a sector where listing volumes have sagged as high living costs slowed the country's hot housing sector but are improving with interest rates coming down. Domain's board has unanimously recommended that shareholders vote in favour of the proposed deal, which is also subject to Foreign Investment Review Board (FIRB) approval. Domain's 60% owner, Nine Entertainment ( opens new tab, said in a separate statement that the deal "appropriately reflects the strategic value" of its interest in Domain and it intends to vote in favour of the deal in absence of a superior offer. ($1 = 1.5640 Australian dollars)
Yahoo
06-02-2025
- Business
- Yahoo
Potentia Energy to acquire 1GW of renewable assets in Australia
Potentia Energy has agreed to acquire controlling interests in a portfolio of more than 1GW of renewable assets across Australia as part of its growth strategy. The portfolio, spanning various locations and technologies, includes 700MW of operational wind and solar assets across several states and the Australian Capital Territory. The portfolio also features 430MW of late-stage developments, including battery energy storage systems (BESS) in South Australia and Queensland and a Western Australian wind project that recently reached financial close. The completion of the acquisition is subject to standard conditions including approval from the Foreign Investment Review Board (FIRB). Potentia Energy, a joint venture between Enel Green Power and INPEX, has entered an agreement with CVC DIF and Cbus Super on the strategic acquisition. Potentia Energy was recently revealed as the new name for the jointly owned company, which has been operating as Enel Green Power Australia since 2017. Its existing portfolio of operational plants includes 309MW of solar capacity in South Australia and Victoria, alongside a 75MW wind farm in Western Australia. Construction is underway on a 98MW solar and 20MW battery hybrid project in New South Wales, with a further 93MW solar farm currently being commissioned in Victoria. Potentia Energy has secured rights for a development pipeline exceeding 7GW across Australia and aims to significantly expand its installed capacity across wind, solar, storage and hybrid projects nationwide. Potentia Energy CEO Werther Esposito stated: 'We are incredibly pleased to announce our acquisition of a portfolio diversified across geographies, technologies and energy markets, including both operational and development stage projects. 'The acquisition expands and complements our existing portfolio of solar and wind assets across the wholesale energy market (WEM) and national electricity market (NEM). 'We are committed to continue driving the energy transition across Australia. Our new Western Australian assets position us to work alongside Synergy in supporting the state's energy transition and decarbonisation ambitions.' "Potentia Energy to acquire 1GW of renewable assets in Australia" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
