Graincorp - australischer Getreidekonzern (Seite 5)
eröffnet am 01.06.12 19:25:45 von
neuester Beitrag 19.07.23 14:35:02 von
neuester Beitrag 19.07.23 14:35:02 von
Beiträge: 50
ID: 1.174.608
ID: 1.174.608
Aufrufe heute: 0
Gesamt: 7.396
Gesamt: 7.396
Aktive User: 0
ISIN: AU000000GNC9 · WKN: 626517
5,1170
EUR
-0,47 %
-0,0240 EUR
Letzter Kurs 23:00:15 Lang & Schwarz
Neuigkeiten
Werte aus der Branche Dienstleistungen
| Wertpapier | Kurs | Perf. % |
|---|---|---|
| 79,80 | +871,99 | |
| 0,7000 | +75,00 | |
| 41,00 | +32,26 | |
| 1.149,00 | +11,25 | |
| 44,75 | +9,95 |
| Wertpapier | Kurs | Perf. % |
|---|---|---|
| 29,52 | -10,63 | |
| 5,4800 | -12,32 | |
| 35,00 | -14,63 | |
| 2,4000 | -20,53 | |
| 0,6300 | -30,00 |
Beitrag zu dieser Diskussion schreiben
Feedback
interessanter Beitrag auf bloomberg 4.11.12
Traders are convinced GrainCorp Ltd. (GNC) is so alluring to Archer-Daniels-Midland Co. that eastern Australia’s largest grain exporter will win the biggest takeover offer increase in developed Asia.
With investors who profit from acquisitions expecting ADM to raise its A$2.68 billion ($2.8 billion) offer or risk losing to a rival bidder, GrainCorp’s stock ended last week 4.3 percent higher than the proposal of A$11.75 a share. That’s further above the offer price than any pending takeover in the developed Asia Pacific region valued at more than $100 million, according to data compiled by Bloomberg. Deutsche Bank AG said other agricultural deals imply GrainCorp should fetch A$13.90 a share, 13 percent greater than last week’s price and 18 percent more than the current bid.
The scrutiny Australian regulators will give any foreign buyer will also motivate Decatur, Illinois-based ADM (ADM) to raise its bid to help reach an agreement with GrainCorp’s board, said Churchill Capital Ltd. Sydney-based GrainCorp, which operates seven of the eight ports from which grain is shipped in bulk from Australia’s east coast, is the last publicly traded wheat merchant of its scale in Australia and could attract other bidders, JPMorgan Chase & Co. said.
“If you want to be a player in one of the largest wheat export markets globally, then this is a must-have asset,” Rhett Kessler, who helps manage about A$1.3 billion at Pengana Capital Ltd. in Sydney, said in a phone interview. “If ADM don’t buy these assets now, they may not get another chance. The first bid is never the final price, and there are many other participants in this market that would have interest in this asset.”
Australian Farmers
GrainCorp, due to publish its full-year earnings report on Nov. 15, has yet to respond to ADM’s offer and has appointed financial and legal advisers. Angus Trigg, a GrainCorp spokesman, declined to comment. Jackie Anderson, an ADM spokeswoman, also wouldn’t comment on the company’s proposed bid price for GrainCorp.
ADM, the world’s largest corn processor, said Oct. 19 that it boosted its GrainCorp stake to 14.9 percent from 4.9 percent and wants to buy the rest of the company. Three days later, GrainCorp said it received the A$11.75-a-share cash offer, which values the business at A$2.68 billion excluding debt.
In addition to its infrastructure, which includes 21 million metric tons of storage capacity at more than 280 inland grain-handling sites, GrainCorp would give ADM annual production of more than 1 million tons of malt.
Rising Population
“With GrainCorp you have a large terminal network that can move grain from local farmers to export markets through its own ports,” said Tom Leske, a sales trader at Churchill Capital in Singapore and a former employee of the Australian company. “This gives it ready access to Asian and east African markets, which is where the key growth is.”
Australia was the world’s largest wheat exporter after the U.S. last season, according to the U.S. Department of Agriculture. The nation shipped 24.5 million tons of wheat in the year through September, the Australian Bureau of Agricultural and Resource Economics and Sciences estimates.
After the nation’s wheat production and exports climbed to all-time highs, analysts estimate that GrainCorp’s net income for the year that ended in September rose to a record A$216 million, according to data compiled by Bloomberg. With the government forecasting a 24 percent drop in wheat production for the crop currently being harvested, earnings are projected to fall to A$171 million in fiscal 2013, according to the average analyst estimate.
Food Demand
Still, rising populations and incomes are boosting demand for food commodities in Asia and emerging markets. World food production will need to expand 70 percent by 2050 as the global population swells by 2 billion, according to the United Nations. Countries will spend more than $1 trillion on food imports for a third year in 2012, the UN estimates.
That outlook has driven several other large agricultural acquisitions, including Glencore International Plc’s agreement in March to buy Canada’s Viterra Inc. for C$6.1 billion ($6.1 billion), excluding debt. In May, Marubeni Corp. said it would purchase Gavilon Group LLC for $3.6 billion, excluding debt.
GrainCorp agreed in August to spend about A$472 million on Gardner Smith Group, Australia’s second-largest oilseed crusher, and Integro Foods, Australia and New Zealand’s largest refiner of edible fats and oils.
GrainCorp has traded above ADM’s A$11.75 offer since the day it was announced last month amid expectations that other bidders would emerge, either winning control of the company with a higher offer or forcing ADM to pay more. At A$12.25, the shares ended last week 4.3 percent above the offer. That’s a larger gap than on any other takeover in developed nations in the Asia-Pacific region valued at more than $100 million, according to data compiled by Bloomberg.
Rival Bidders
“Given the nature of GNC’s assets in a rapidly consolidating global market, as well as it being the last available play in the Australian grains market of any real significance, we believe there are a number of companies that would potentially be interested,” JPMorgan analyst Stuart Jackson wrote in an Oct. 19 research note, referring to GrainCorp by its stock ticker.
Potential buyers range from White Plains, New York-based Bunge Ltd. (BG) to Hong Kong’s Noble Group Ltd. (NOBL), Jackson wrote.
Susan Burns, a Bunge spokeswoman, declined to comment on any interest the company may have in GrainCorp. Stephen Brown, a Hong Kong-based spokesman for Noble, said the company doesn’t comment on speculation. Noble has said it plans to expand its agricultural unit.
Summa Group, Russia’s biggest port operator, considered a bid for GrainCorp before ADM made its offer, two people with knowledge of the matter said last week.
Fair Price
ADM’s current bid values GrainCorp at 8 times forecast fiscal 2013 earnings before interest, taxes, depreciation and amortization of A$400 million, according to Mark Wilson, a Sydney-based analyst at Deutsche Bank. That compares with an average of 9.2 times Ebitda paid in 15 Australian grain acquisitions since 2000, including Agrium Inc.’s purchase of AWB Ltd. and Viterra’s acquisition of ABB Grain Ltd., he wrote in an Oct. 19 research note.
At the higher multiple, GrainCorp would fetch A$13.90, or A$3.2 billion excluding debt, Wilson wrote.
“The current offer price of A$11.75 is not high enough,” Lee Mitchell, Singapore-based special situations trader at Religare Capital Markets Ltd., said by e-mail. “ADM will have to increase the offer price to a minimum A$13 per share, with A$14.10 per share being our fair value and more in line with recent transactions.”
Financing Restrictions
ADM’s finances may restrict how high its bid can go. Standard & Poor’s Ratings Services said on Oct. 20 that it may downgrade ADM’s credit ratings because of uncertainty about how it will fund the deal. With cash of $1.3 billion, the company had net debt of $8.6 billion at the end of June, data compiled by Bloomberg show.
“The big traders operate on a very slim margin,” Dennis Hulme, an analyst at BBY Ltd., said in a phone interview from Sydney. “I expect them to be very price conscious. They’d like to have the assets, but they don’t want to overpay.”
Still, ADM will be motivated to reach an agreement with GrainCorp’s board to ease approval by Australia’s Foreign Investment Review Board, Churchill Capital’s Leske said. FIRB makes a recommendation to the country’s treasurer, who can block a deal.
‘Smoother Ride’
“It’s great if you have a friendly reception from the target,” Malcolm Brennan, special counsel at law firm King & Wood Mallesons, said by phone from Canberra. “That support says they think it’s a good idea and will look after employees and local operations, the key factors when looking at the national interest test. You are going to have a smoother ride.”
Australia’s Treasury didn’t immediately reply to a written request for comment sent to its media office.
ADM’s increase of its stake in GrainCorp last month is a sign that it’s committed to winning control, Religare’s Mitchell said.
“There’s always the expectation that when you put in an initial offer, there’s a bit up your sleeves,” said Paul Jensz, a Melbourne-based analyst at Octa Phillip Financial Group Ltd. “They’ve said it’s a strategic imperative to be in this region, buying grain from what they believe is a high-grain-quality region.”
Traders are convinced GrainCorp Ltd. (GNC) is so alluring to Archer-Daniels-Midland Co. that eastern Australia’s largest grain exporter will win the biggest takeover offer increase in developed Asia.
With investors who profit from acquisitions expecting ADM to raise its A$2.68 billion ($2.8 billion) offer or risk losing to a rival bidder, GrainCorp’s stock ended last week 4.3 percent higher than the proposal of A$11.75 a share. That’s further above the offer price than any pending takeover in the developed Asia Pacific region valued at more than $100 million, according to data compiled by Bloomberg. Deutsche Bank AG said other agricultural deals imply GrainCorp should fetch A$13.90 a share, 13 percent greater than last week’s price and 18 percent more than the current bid.
The scrutiny Australian regulators will give any foreign buyer will also motivate Decatur, Illinois-based ADM (ADM) to raise its bid to help reach an agreement with GrainCorp’s board, said Churchill Capital Ltd. Sydney-based GrainCorp, which operates seven of the eight ports from which grain is shipped in bulk from Australia’s east coast, is the last publicly traded wheat merchant of its scale in Australia and could attract other bidders, JPMorgan Chase & Co. said.
“If you want to be a player in one of the largest wheat export markets globally, then this is a must-have asset,” Rhett Kessler, who helps manage about A$1.3 billion at Pengana Capital Ltd. in Sydney, said in a phone interview. “If ADM don’t buy these assets now, they may not get another chance. The first bid is never the final price, and there are many other participants in this market that would have interest in this asset.”
Australian Farmers
GrainCorp, due to publish its full-year earnings report on Nov. 15, has yet to respond to ADM’s offer and has appointed financial and legal advisers. Angus Trigg, a GrainCorp spokesman, declined to comment. Jackie Anderson, an ADM spokeswoman, also wouldn’t comment on the company’s proposed bid price for GrainCorp.
ADM, the world’s largest corn processor, said Oct. 19 that it boosted its GrainCorp stake to 14.9 percent from 4.9 percent and wants to buy the rest of the company. Three days later, GrainCorp said it received the A$11.75-a-share cash offer, which values the business at A$2.68 billion excluding debt.
In addition to its infrastructure, which includes 21 million metric tons of storage capacity at more than 280 inland grain-handling sites, GrainCorp would give ADM annual production of more than 1 million tons of malt.
Rising Population
“With GrainCorp you have a large terminal network that can move grain from local farmers to export markets through its own ports,” said Tom Leske, a sales trader at Churchill Capital in Singapore and a former employee of the Australian company. “This gives it ready access to Asian and east African markets, which is where the key growth is.”
Australia was the world’s largest wheat exporter after the U.S. last season, according to the U.S. Department of Agriculture. The nation shipped 24.5 million tons of wheat in the year through September, the Australian Bureau of Agricultural and Resource Economics and Sciences estimates.
After the nation’s wheat production and exports climbed to all-time highs, analysts estimate that GrainCorp’s net income for the year that ended in September rose to a record A$216 million, according to data compiled by Bloomberg. With the government forecasting a 24 percent drop in wheat production for the crop currently being harvested, earnings are projected to fall to A$171 million in fiscal 2013, according to the average analyst estimate.
Food Demand
Still, rising populations and incomes are boosting demand for food commodities in Asia and emerging markets. World food production will need to expand 70 percent by 2050 as the global population swells by 2 billion, according to the United Nations. Countries will spend more than $1 trillion on food imports for a third year in 2012, the UN estimates.
That outlook has driven several other large agricultural acquisitions, including Glencore International Plc’s agreement in March to buy Canada’s Viterra Inc. for C$6.1 billion ($6.1 billion), excluding debt. In May, Marubeni Corp. said it would purchase Gavilon Group LLC for $3.6 billion, excluding debt.
GrainCorp agreed in August to spend about A$472 million on Gardner Smith Group, Australia’s second-largest oilseed crusher, and Integro Foods, Australia and New Zealand’s largest refiner of edible fats and oils.
GrainCorp has traded above ADM’s A$11.75 offer since the day it was announced last month amid expectations that other bidders would emerge, either winning control of the company with a higher offer or forcing ADM to pay more. At A$12.25, the shares ended last week 4.3 percent above the offer. That’s a larger gap than on any other takeover in developed nations in the Asia-Pacific region valued at more than $100 million, according to data compiled by Bloomberg.
Rival Bidders
“Given the nature of GNC’s assets in a rapidly consolidating global market, as well as it being the last available play in the Australian grains market of any real significance, we believe there are a number of companies that would potentially be interested,” JPMorgan analyst Stuart Jackson wrote in an Oct. 19 research note, referring to GrainCorp by its stock ticker.
Potential buyers range from White Plains, New York-based Bunge Ltd. (BG) to Hong Kong’s Noble Group Ltd. (NOBL), Jackson wrote.
Susan Burns, a Bunge spokeswoman, declined to comment on any interest the company may have in GrainCorp. Stephen Brown, a Hong Kong-based spokesman for Noble, said the company doesn’t comment on speculation. Noble has said it plans to expand its agricultural unit.
Summa Group, Russia’s biggest port operator, considered a bid for GrainCorp before ADM made its offer, two people with knowledge of the matter said last week.
Fair Price
ADM’s current bid values GrainCorp at 8 times forecast fiscal 2013 earnings before interest, taxes, depreciation and amortization of A$400 million, according to Mark Wilson, a Sydney-based analyst at Deutsche Bank. That compares with an average of 9.2 times Ebitda paid in 15 Australian grain acquisitions since 2000, including Agrium Inc.’s purchase of AWB Ltd. and Viterra’s acquisition of ABB Grain Ltd., he wrote in an Oct. 19 research note.
At the higher multiple, GrainCorp would fetch A$13.90, or A$3.2 billion excluding debt, Wilson wrote.
“The current offer price of A$11.75 is not high enough,” Lee Mitchell, Singapore-based special situations trader at Religare Capital Markets Ltd., said by e-mail. “ADM will have to increase the offer price to a minimum A$13 per share, with A$14.10 per share being our fair value and more in line with recent transactions.”
Financing Restrictions
ADM’s finances may restrict how high its bid can go. Standard & Poor’s Ratings Services said on Oct. 20 that it may downgrade ADM’s credit ratings because of uncertainty about how it will fund the deal. With cash of $1.3 billion, the company had net debt of $8.6 billion at the end of June, data compiled by Bloomberg show.
“The big traders operate on a very slim margin,” Dennis Hulme, an analyst at BBY Ltd., said in a phone interview from Sydney. “I expect them to be very price conscious. They’d like to have the assets, but they don’t want to overpay.”
Still, ADM will be motivated to reach an agreement with GrainCorp’s board to ease approval by Australia’s Foreign Investment Review Board, Churchill Capital’s Leske said. FIRB makes a recommendation to the country’s treasurer, who can block a deal.
‘Smoother Ride’
“It’s great if you have a friendly reception from the target,” Malcolm Brennan, special counsel at law firm King & Wood Mallesons, said by phone from Canberra. “That support says they think it’s a good idea and will look after employees and local operations, the key factors when looking at the national interest test. You are going to have a smoother ride.”
Australia’s Treasury didn’t immediately reply to a written request for comment sent to its media office.
ADM’s increase of its stake in GrainCorp last month is a sign that it’s committed to winning control, Religare’s Mitchell said.
“There’s always the expectation that when you put in an initial offer, there’s a bit up your sleeves,” said Paul Jensz, a Melbourne-based analyst at Octa Phillip Financial Group Ltd. “They’ve said it’s a strategic imperative to be in this region, buying grain from what they believe is a high-grain-quality region.”
Antwort auf Beitrag Nr.: 43.541.219 von mr.lukoil am 28.08.12 12:03:10Übernahmeangebot?
Das kommt nicht ganz überraschend. Mal schauen, ob sich eine Übernahme überhaupt durchsetzen ließe. Jedenfalls dürfte ein netter Kursaufschlag kommen, sobald die Aktie wieder gehandelt wird.
ADM Buys Addl. Stake In Australia's GrainCorp, Plans Takeover Talks
CANBERA (dpa-AFX) - Grain processor Archer Daniels Midland Co. (ADM) said Friday that it has acquired an additional 10 percent stake in Australia-based GrainCorp Ltd. (GRCLF.PK) for A$11.75 per share, raising its total stake in the grain handler to 14.9 percent.
Decatur, Illinois-based ADM also said it intends to work with GrainCorp to arrive at an acquisition agreement that will align with its strategy of investing in key supply regions outside the U.S.
ADM already has a presence in Australia through its holding of an 80 percent stake in smaller grain handler Toepfer International.
ADM said that on Thursday evening, it acquired an additional 10 percent economic interest in GrainCorp for A$11.75 per share. The purchase price represents a 33 percent premium to GrainCorp.'s closing stock price on Thursday of A$8.85 per share.
Patricia Woertz, Chairman and CEO of ADM said, 'Our investment in GrainCorp is part of our ongoing portfolio management and is consistent with our strategy of growing our Agricultural Services and Oilseeds businesses by investing in key supply regions outside the United States.'
Woertz added, 'We anticipate that an ADM acquisition of GrainCorp would meet ADM's key financial hurdles.'
ADM noted that together, GrainCorp and ADM would be better positioned to connect Australia's farmers with growing demand for crops and food, particularly in Asia and the Middle East.
Earlier in the day, GrainCorp requested to the Australian stock exchange that its shares be placed in a trading halt from Friday until the opening of trading on Tuesday, October 23.
GrainCorp said ADM has informed that it wished to hold talks with the company regarding a 'potential transaction'. However,GrainCorp added that it has not received any formal proposal.
GrainCorp said in a statement, 'Should GrainCorp receive a proposal from ADM, the Board will review the proposal as well as other options to maximize value for GrainCorp shareholders.'
GrainCorp, which owns about half of the grain-storage facilities in Eastern Australia, boasts a total grain storage capacity of up to 20 million tonnes. The company has a market capitalization of A$1.75 billion.
In late July, ADM reported a more than 25 percent decline in profit for the fourth quarter, as revenues were little changed amid lower U.S. merchandising results, a decline in U.S. crop supplies and negative ethanol margins.
In Friday's regular session, ADM is trading at $28.88, down $0.19 or 0.65 percent on a volume of 1.34 million shares.
Das kommt nicht ganz überraschend. Mal schauen, ob sich eine Übernahme überhaupt durchsetzen ließe. Jedenfalls dürfte ein netter Kursaufschlag kommen, sobald die Aktie wieder gehandelt wird.
ADM Buys Addl. Stake In Australia's GrainCorp, Plans Takeover Talks
CANBERA (dpa-AFX) - Grain processor Archer Daniels Midland Co. (ADM) said Friday that it has acquired an additional 10 percent stake in Australia-based GrainCorp Ltd. (GRCLF.PK) for A$11.75 per share, raising its total stake in the grain handler to 14.9 percent.
Decatur, Illinois-based ADM also said it intends to work with GrainCorp to arrive at an acquisition agreement that will align with its strategy of investing in key supply regions outside the U.S.
ADM already has a presence in Australia through its holding of an 80 percent stake in smaller grain handler Toepfer International.
ADM said that on Thursday evening, it acquired an additional 10 percent economic interest in GrainCorp for A$11.75 per share. The purchase price represents a 33 percent premium to GrainCorp.'s closing stock price on Thursday of A$8.85 per share.
Patricia Woertz, Chairman and CEO of ADM said, 'Our investment in GrainCorp is part of our ongoing portfolio management and is consistent with our strategy of growing our Agricultural Services and Oilseeds businesses by investing in key supply regions outside the United States.'
Woertz added, 'We anticipate that an ADM acquisition of GrainCorp would meet ADM's key financial hurdles.'
ADM noted that together, GrainCorp and ADM would be better positioned to connect Australia's farmers with growing demand for crops and food, particularly in Asia and the Middle East.
Earlier in the day, GrainCorp requested to the Australian stock exchange that its shares be placed in a trading halt from Friday until the opening of trading on Tuesday, October 23.
GrainCorp said ADM has informed that it wished to hold talks with the company regarding a 'potential transaction'. However,GrainCorp added that it has not received any formal proposal.
GrainCorp said in a statement, 'Should GrainCorp receive a proposal from ADM, the Board will review the proposal as well as other options to maximize value for GrainCorp shareholders.'
GrainCorp, which owns about half of the grain-storage facilities in Eastern Australia, boasts a total grain storage capacity of up to 20 million tonnes. The company has a market capitalization of A$1.75 billion.
In late July, ADM reported a more than 25 percent decline in profit for the fourth quarter, as revenues were little changed amid lower U.S. merchandising results, a decline in U.S. crop supplies and negative ethanol margins.
In Friday's regular session, ADM is trading at $28.88, down $0.19 or 0.65 percent on a volume of 1.34 million shares.
UPDATE 2-Australia's Graincorp in $490 mln edible oil deal
Tue Aug 28, 2012 1:04am EDT
* To fund deal through debt, scrip and rights offering
* Enters into long-term supply deal with Goodman Fielder
* Graincorp beats Wilmar, Cargill for Integro business
WELLINGTON/SYDNEY, Aug 28 (Reuters) - Australian bulk grain handler GrainCorp said on Tuesday it plans to buy two food oil businesses for a combined A$472 million ($490 million) to create the country's largest edible oil processor.
GrainCorp said it bought Goodman Fielder's Integro oil business for A$170 million and Gardner Smith Group for A$302 million. Integro's oil business had drawn the interest of larger rivals Cargill and Wilmar.
The companies are looking to build up their edible oil businesses with prices near all-time highs, bolstered by growing Asian demand. Vegetable oil prices have nearly quadrupled in the past decade, analysts said, pushed up by rising consumption and use as biofuel.
GrainCorp said in a statement it will fund the deal through debt, a rights offering worth A$159 million, and issue shares of up to A$121 million for Gardner Smith shareholders. It will combine the two businesses to form GrainCorp Oil Mills.
"GrainCorp Oils will provide us with immediate scale in the edible oils sector in Australia and New Zealand," Chief Executive Alison Watkins said. The deal diversifies revenue and arms the company with products to compete in Asia.
In May, Cargill made a new approach after Integro after long-drawn out A$240 million bid failed to win the approval of the Australian competition watchdog.
Wilmar, which has built a 10 percent stake in Goodman Fielder, has stated it would cut the stake in the event of a sale of Integro, JPMorgan analyst Stuart Jackson said in a note.
The deal provides Graincorp a long-term contract to supply margarine and bottled oil to Goodman Fielder, which has a number of large brands, including Meadow Lea and Paul Newman.
GrainCorp Oil will have capacity to crush more than 300,000 tonnes of oilseeds a year, with 280,000 tonnes of annual edible fats and oils refining capacity, it said.
GrainCorp shares were halted pending the rights issue. Shares in Goodman Fielder, which plans to cut debt and focus on product marketing as part of a turnaround strategy, was up 2.8 percent in afternoon trade.
Tue Aug 28, 2012 1:04am EDT
* To fund deal through debt, scrip and rights offering
* Enters into long-term supply deal with Goodman Fielder
* Graincorp beats Wilmar, Cargill for Integro business
WELLINGTON/SYDNEY, Aug 28 (Reuters) - Australian bulk grain handler GrainCorp said on Tuesday it plans to buy two food oil businesses for a combined A$472 million ($490 million) to create the country's largest edible oil processor.
GrainCorp said it bought Goodman Fielder's Integro oil business for A$170 million and Gardner Smith Group for A$302 million. Integro's oil business had drawn the interest of larger rivals Cargill and Wilmar.
The companies are looking to build up their edible oil businesses with prices near all-time highs, bolstered by growing Asian demand. Vegetable oil prices have nearly quadrupled in the past decade, analysts said, pushed up by rising consumption and use as biofuel.
GrainCorp said in a statement it will fund the deal through debt, a rights offering worth A$159 million, and issue shares of up to A$121 million for Gardner Smith shareholders. It will combine the two businesses to form GrainCorp Oil Mills.
"GrainCorp Oils will provide us with immediate scale in the edible oils sector in Australia and New Zealand," Chief Executive Alison Watkins said. The deal diversifies revenue and arms the company with products to compete in Asia.
In May, Cargill made a new approach after Integro after long-drawn out A$240 million bid failed to win the approval of the Australian competition watchdog.
Wilmar, which has built a 10 percent stake in Goodman Fielder, has stated it would cut the stake in the event of a sale of Integro, JPMorgan analyst Stuart Jackson said in a note.
The deal provides Graincorp a long-term contract to supply margarine and bottled oil to Goodman Fielder, which has a number of large brands, including Meadow Lea and Paul Newman.
GrainCorp Oil will have capacity to crush more than 300,000 tonnes of oilseeds a year, with 280,000 tonnes of annual edible fats and oils refining capacity, it said.
GrainCorp shares were halted pending the rights issue. Shares in Goodman Fielder, which plans to cut debt and focus on product marketing as part of a turnaround strategy, was up 2.8 percent in afternoon trade.
hier findet sich auch die Dividendenhistorie:
http://www.graincorp.com.au/investors-and-media/investor-inf…
http://www.graincorp.com.au/investors-and-media/investor-inf…
Antwort auf Beitrag Nr.: 43.324.364 von mr.lukoil am 27.06.12 08:38:26GrainCorp at Lowest Valuation Seen Ripe for Plucking: Real M&A
By Angus Whitley and Phoebe Sedgman - Mar 30, 2012 8:00 AM GMT+0200
Facebook Share
LinkedIn
Google +1
1 Comment
Print
QUEUE
Q
No middleman in the industrialized world is offering potential buyers a cheaper way to export wheat to Asia than Australia’s GrainCorp Ltd. (GNC)
While Glencore International Plc’s purchase of Viterra Inc.’s grain assets in Australia and Canada this month helped spur an 11 percent jump in GrainCorp’s shares on takeover speculation, the Sydney-based wheat handler still traded yesterday at 10.7 times profit, according to data compiled by Bloomberg. That’s the lowest among agricultural product wholesalers valued at more than $500 million in developed economies. It’s also a 57 percent discount to Glencore’s bid of 24.9 times earnings for Viterra, the data show.
Enlarge image GrainCorp at Lowest Valuation Seen Ripe for Plucking
The GrainCorp Ltd. grain terminal stands at Newcastle Port in Newcastle, Australia. Photographer: Jeremy Piper/Bloomberg
GrainCorp CEO Alison Watkins
Alison Watkins, chief executive officer of GrainCorp Ltd., speaking in Melbourne, Australia. Photographer: Carla Gottgens/Bloomberg
GrainCorp, which operates seven of the eight ports that ship grain in bulk from Australia’s east coast, has tripled its sales since the world’s second-largest wheat exporting nation began deregulating the industry in 2006, and is projected by analysts to report record profit this year. A takeover offer is “inevitable,” according to Citigroup Inc., and GrainCorp could lure a bid of A$2.2 billion ($2.3 billion), 23 percent more than yesterday’s close, RBS Morgans Ltd. said.
“GrainCorp is a strategic asset,” said Belinda Moore, a Brisbane-based analyst at RBS Morgans. “With Viterra (VT) going, and the agriculture sector continuing to consolidate, there are fewer and fewer agriculture companies. It’s the last significant company in Australia capable of being taken out.”
GrainCorp rose 0.6 percent to A$9.05 a share, its highest close since June 2008, after reaching a high of A$9.12 today.
Virtual Monopoly
“We’re just going to focus on running the business as well as we can,” GrainCorp Chief Executive Officer Alison Watkins said in an interview in Melbourne today. “I think it’s flattering that everyone thinks we’re so attractive.”
GrainCorp, which traces its roots to 1916 and the Grain Elevators Board of the New South Wales state agriculture department, handles as much as 60 percent of eastern Australia’s grain crop and has about 20 million metric tons of storage at more than 280 inland grain handling sites, according to the company.
Its revenue has surged since Australia’s 2006 decision to strip AWB Ltd. of an export monopoly, after an inquiry found it was among firms that made illegal payments to win contracts from the former Iraq regime of Saddam Hussein under the United Nations’ oil-for-food program.
With GrainCorp owning the silos where farmers dump their harvests, railroad cars that carry loads to east coast ports, and the elevators used to load ships, the deregulation gave the company a “virtual, natural monopoly” on the eastern seaboard, according to Justin Crosby, a policy director at the Sydney- based NSW Farmers’ Association, which represents 10,000 members, half of them grain growers.
‘Deliver Your Wheat’
In the five-year period ended in September 2006, revenue at GrainCorp rose 60 percent, according to data compiled by Bloomberg. In the five years since, sales have risen 242 percent to A$2.8 billion, the data show.
“There’s very little competition in New South Wales outside of GrainCorp,” Crosby said. “There is a great deal of market power held by GrainCorp with regards to where you can deliver your wheat.”
As of yesterday, GrainCorp had risen 11 percent since Viterra said on March 9 that it was approached by possible buyers. The closing price of A$9 a share yesterday valued the company at 10.7 times profit, making GrainCorp the cheapest of five agricultural products wholesalers worth more than $500 million in the U.S., Western Europe, and developed Asia, according to data compiled by Bloomberg. The companies fetch an average of 23.1 times earnings, and Glencore’s C$16.25 a share offer is 24.9 times Viterra’s earnings, the data show.
Billionaire Stakeholder
Less than a week after Viterra’s disclosure, Australian billionaire James Packer raised his stake in GrainCorp to 6.2 percent, becoming the company’s largest shareholder, according to stock exchange filings. Brian O’Sullivan, a director at Ellerston Capital Ltd., the fund that holds the stake, didn’t return calls seeking comment on the investment.
A buyer of GrainCorp would be drawn by many of the same factors that drove Glencore’s C$6.1 billion ($6.1 billion) offer for Regina, Saskatchewan-based Viterra, which was made with Canada’s Agrium Inc. (AGU) and Richardson International Ltd., according to Citigroup analyst Tim Mitchell. Agrium will buy most of Viterra’s retail facilities in Canada and Australia and a stake in Canadian Fertilizer Ltd., while Richardson will purchase a stake in Viterra’s Canadian grain-handling assets as well as some other North American operations.
“What really attracted us to Viterra is the asset base, a superb set of assets, elevators, port facilities, processing plants in Australia and in Canada,” Chris Mahoney, Glencore’s director of agricultural products, said on a March 20 conference call about the deal.
Glencore, Gavilon
People familiar with the matter said this month that Glencore (GLEN) had also expressed an interest in closely held Gavilon Group LLC as the Omaha, Nebraska-based grain handler weighed a sale that could fetch as much as $5 billion. While Singapore- based Wilmar International Ltd. (WIL) and Japan’s Mitsui & Co. also expressed an interest, Gavilon discouraged Cargill Inc. of Minneapolis and Decatur, Illinois-based Archer Daniels Midland Co. because of antitrust risk, the people said. Japan’s Marubeni Corp. (8002) may also be interested, Reuters reported March 21.
Glencore forecasts annual global demand growth for grains and oilseeds of as much as 3.5 percent to be driven by Asia, Mahoney said on the call. Indonesia, where demand for wheat has risen more than 50 percent in the past decade, has surpassed Japan as Asia’s largest importer of the grain, according to the U.S. Department of Agriculture.
‘Luxury Foods’
Forecasting global wheat exports will double to more than 225 million metric tons by 2050, GrainCorp said demand will come from established markets in Asia, the Middle East and North Africa which already import half their grain, as well as new demand from sub-Saharan Africa and the Asian subcontinent, according to a March 28 filing to Australia’s stock exchange.
The growth will come in large part because of demand for protein from increasingly rich consumers, said David Leyonhjelm, director of Baron Strategic Services, a Sydney-based agricultural consultancy.
“As incomes rise, dietary preferences head toward what are perceived to be luxury foods, and that’s animal products,” he said. “Grain is a key feedstock ingredient. Even if it’s not being used to make bread and pasta, it will be used to make stock feed.”
Australia was the world’s second-biggest wheat exporter in 2011, according to the USDA, and GrainCorp earnings may rise to a record A$185 million in the year ending September, according to the March 28 filing.
‘Critical Mass’
With Viterra sold, AWB acquired by Agrium in 2010, and another large rival, CBH Group, owned by a co-operative of 4,500 farmers in Western Australia, global commodity traders from Archer Daniels (ADM) to Cargill and Louis Dreyfus Corp. are running out of alternatives in Australia, Leyonhjelm said.
GrainCorp would “make sense” as a target for any of the three companies, he said. “GrainCorp is the only one left if you want critical mass fairly easily.”
Spokesmen for Archer Daniels, Cargill and Louis Dreyfus all declined to comment. Archer Daniels said last week that it decided not to bid for Viterra after considering it. Cargill, which acquired AWB’s commodity trading business from Agrium in 2010, said this month that its Canadian market share stopped it from bidding for Viterra.
GrainCorp also owns a Canadian maker of malt used for whiskey and beer, which means it stands to profit from the end of a 69-year-old wheat and barley monopoly held by the Canadian Wheat Board, Citigroup’s Mitchell wrote in a March 12 note.
Relative Value
Starting Aug. 1 farmers in western Canada will be able to sell to any buyer, rather than only the Canadian Wheat Board, which Viterra has said will boost its market share and profits.
GrainCorp could be worth A$11.11 a share to a buyer, or about A$2.4 billion including the value of its debt, according to RBS Morgans’s Moore. That’s 9 times Moore’s forecast for earnings before interest, taxes, depreciation and amortization of A$265.5 million in 2014, which reflects an “average season” for the company.
Glencore’s offer values Viterra at 11 times expected 2012 Ebitda. Applied to Moore’s 2014 Ebitda target, that multiple would value GrainCorp at A$13.94 a share. Because GrainCorp is smaller than Viterra, a lower multiple is more appropriate, with 9 times being the “average for Australian agribusinesses,” Moore wrote in a March 21 research note.
Applying the same 9 times Ebitda multiple to GrainCorp’s “sustainable” earnings of about A$260 million, Citigroup’s Mitchell says the company is worth about A$11 a share in a takeover. For the current year, GrainCorp is forecasting Ebitda of between A$350 million and A$380 million.
Make a Move
Buyers may wait for a pullback in the grain harvest, which has pushed GrainCorp’s earnings beyond levels likely in the long term, said James Ferrier, an analyst at Wilson HTM Investment Group (WIG) in Melbourne.
“If GrainCorp was to get a bid, it would more likely happen when the weather cycle turns and we go back into a few dry years, similar to the scenario when Viterra acquired ABB Grain,” he said.
The A$1.9 billion purchase of South Australia-focused ABB Grain Ltd. was struck in May 2009, after two drought-affected harvests. Including the value of ABB’s debt, Viterra paid 17 times Ebitda, according to data compiled by Bloomberg. The company touted the acquisition’s potential to “provide greater exposure to the higher-growth Asian import market,” according to a statement at the time.
Australia has one of the world’s most variable rainfall climates, with three good years and three bad years every decade, according to the nation’s Bureau of Meteorology. Last year was Australia’s third-wettest year on record.
Still, takeovers in Australia will continue, said Mike Chaseling, deputy chairman of grain trader Emerald Group Australia Pty.
“The big question, post-Viterra, is does somebody look to make a move on GrainCorp?” he said. “We don’t think it stops here.”
quelle bloomberg
By Angus Whitley and Phoebe Sedgman - Mar 30, 2012 8:00 AM GMT+0200
Facebook Share
Google +1
1 Comment
QUEUE
Q
No middleman in the industrialized world is offering potential buyers a cheaper way to export wheat to Asia than Australia’s GrainCorp Ltd. (GNC)
While Glencore International Plc’s purchase of Viterra Inc.’s grain assets in Australia and Canada this month helped spur an 11 percent jump in GrainCorp’s shares on takeover speculation, the Sydney-based wheat handler still traded yesterday at 10.7 times profit, according to data compiled by Bloomberg. That’s the lowest among agricultural product wholesalers valued at more than $500 million in developed economies. It’s also a 57 percent discount to Glencore’s bid of 24.9 times earnings for Viterra, the data show.
Enlarge image GrainCorp at Lowest Valuation Seen Ripe for Plucking
The GrainCorp Ltd. grain terminal stands at Newcastle Port in Newcastle, Australia. Photographer: Jeremy Piper/Bloomberg
GrainCorp CEO Alison Watkins
Alison Watkins, chief executive officer of GrainCorp Ltd., speaking in Melbourne, Australia. Photographer: Carla Gottgens/Bloomberg
GrainCorp, which operates seven of the eight ports that ship grain in bulk from Australia’s east coast, has tripled its sales since the world’s second-largest wheat exporting nation began deregulating the industry in 2006, and is projected by analysts to report record profit this year. A takeover offer is “inevitable,” according to Citigroup Inc., and GrainCorp could lure a bid of A$2.2 billion ($2.3 billion), 23 percent more than yesterday’s close, RBS Morgans Ltd. said.
“GrainCorp is a strategic asset,” said Belinda Moore, a Brisbane-based analyst at RBS Morgans. “With Viterra (VT) going, and the agriculture sector continuing to consolidate, there are fewer and fewer agriculture companies. It’s the last significant company in Australia capable of being taken out.”
GrainCorp rose 0.6 percent to A$9.05 a share, its highest close since June 2008, after reaching a high of A$9.12 today.
Virtual Monopoly
“We’re just going to focus on running the business as well as we can,” GrainCorp Chief Executive Officer Alison Watkins said in an interview in Melbourne today. “I think it’s flattering that everyone thinks we’re so attractive.”
GrainCorp, which traces its roots to 1916 and the Grain Elevators Board of the New South Wales state agriculture department, handles as much as 60 percent of eastern Australia’s grain crop and has about 20 million metric tons of storage at more than 280 inland grain handling sites, according to the company.
Its revenue has surged since Australia’s 2006 decision to strip AWB Ltd. of an export monopoly, after an inquiry found it was among firms that made illegal payments to win contracts from the former Iraq regime of Saddam Hussein under the United Nations’ oil-for-food program.
With GrainCorp owning the silos where farmers dump their harvests, railroad cars that carry loads to east coast ports, and the elevators used to load ships, the deregulation gave the company a “virtual, natural monopoly” on the eastern seaboard, according to Justin Crosby, a policy director at the Sydney- based NSW Farmers’ Association, which represents 10,000 members, half of them grain growers.
‘Deliver Your Wheat’
In the five-year period ended in September 2006, revenue at GrainCorp rose 60 percent, according to data compiled by Bloomberg. In the five years since, sales have risen 242 percent to A$2.8 billion, the data show.
“There’s very little competition in New South Wales outside of GrainCorp,” Crosby said. “There is a great deal of market power held by GrainCorp with regards to where you can deliver your wheat.”
As of yesterday, GrainCorp had risen 11 percent since Viterra said on March 9 that it was approached by possible buyers. The closing price of A$9 a share yesterday valued the company at 10.7 times profit, making GrainCorp the cheapest of five agricultural products wholesalers worth more than $500 million in the U.S., Western Europe, and developed Asia, according to data compiled by Bloomberg. The companies fetch an average of 23.1 times earnings, and Glencore’s C$16.25 a share offer is 24.9 times Viterra’s earnings, the data show.
Billionaire Stakeholder
Less than a week after Viterra’s disclosure, Australian billionaire James Packer raised his stake in GrainCorp to 6.2 percent, becoming the company’s largest shareholder, according to stock exchange filings. Brian O’Sullivan, a director at Ellerston Capital Ltd., the fund that holds the stake, didn’t return calls seeking comment on the investment.
A buyer of GrainCorp would be drawn by many of the same factors that drove Glencore’s C$6.1 billion ($6.1 billion) offer for Regina, Saskatchewan-based Viterra, which was made with Canada’s Agrium Inc. (AGU) and Richardson International Ltd., according to Citigroup analyst Tim Mitchell. Agrium will buy most of Viterra’s retail facilities in Canada and Australia and a stake in Canadian Fertilizer Ltd., while Richardson will purchase a stake in Viterra’s Canadian grain-handling assets as well as some other North American operations.
“What really attracted us to Viterra is the asset base, a superb set of assets, elevators, port facilities, processing plants in Australia and in Canada,” Chris Mahoney, Glencore’s director of agricultural products, said on a March 20 conference call about the deal.
Glencore, Gavilon
People familiar with the matter said this month that Glencore (GLEN) had also expressed an interest in closely held Gavilon Group LLC as the Omaha, Nebraska-based grain handler weighed a sale that could fetch as much as $5 billion. While Singapore- based Wilmar International Ltd. (WIL) and Japan’s Mitsui & Co. also expressed an interest, Gavilon discouraged Cargill Inc. of Minneapolis and Decatur, Illinois-based Archer Daniels Midland Co. because of antitrust risk, the people said. Japan’s Marubeni Corp. (8002) may also be interested, Reuters reported March 21.
Glencore forecasts annual global demand growth for grains and oilseeds of as much as 3.5 percent to be driven by Asia, Mahoney said on the call. Indonesia, where demand for wheat has risen more than 50 percent in the past decade, has surpassed Japan as Asia’s largest importer of the grain, according to the U.S. Department of Agriculture.
‘Luxury Foods’
Forecasting global wheat exports will double to more than 225 million metric tons by 2050, GrainCorp said demand will come from established markets in Asia, the Middle East and North Africa which already import half their grain, as well as new demand from sub-Saharan Africa and the Asian subcontinent, according to a March 28 filing to Australia’s stock exchange.
The growth will come in large part because of demand for protein from increasingly rich consumers, said David Leyonhjelm, director of Baron Strategic Services, a Sydney-based agricultural consultancy.
“As incomes rise, dietary preferences head toward what are perceived to be luxury foods, and that’s animal products,” he said. “Grain is a key feedstock ingredient. Even if it’s not being used to make bread and pasta, it will be used to make stock feed.”
Australia was the world’s second-biggest wheat exporter in 2011, according to the USDA, and GrainCorp earnings may rise to a record A$185 million in the year ending September, according to the March 28 filing.
‘Critical Mass’
With Viterra sold, AWB acquired by Agrium in 2010, and another large rival, CBH Group, owned by a co-operative of 4,500 farmers in Western Australia, global commodity traders from Archer Daniels (ADM) to Cargill and Louis Dreyfus Corp. are running out of alternatives in Australia, Leyonhjelm said.
GrainCorp would “make sense” as a target for any of the three companies, he said. “GrainCorp is the only one left if you want critical mass fairly easily.”
Spokesmen for Archer Daniels, Cargill and Louis Dreyfus all declined to comment. Archer Daniels said last week that it decided not to bid for Viterra after considering it. Cargill, which acquired AWB’s commodity trading business from Agrium in 2010, said this month that its Canadian market share stopped it from bidding for Viterra.
GrainCorp also owns a Canadian maker of malt used for whiskey and beer, which means it stands to profit from the end of a 69-year-old wheat and barley monopoly held by the Canadian Wheat Board, Citigroup’s Mitchell wrote in a March 12 note.
Relative Value
Starting Aug. 1 farmers in western Canada will be able to sell to any buyer, rather than only the Canadian Wheat Board, which Viterra has said will boost its market share and profits.
GrainCorp could be worth A$11.11 a share to a buyer, or about A$2.4 billion including the value of its debt, according to RBS Morgans’s Moore. That’s 9 times Moore’s forecast for earnings before interest, taxes, depreciation and amortization of A$265.5 million in 2014, which reflects an “average season” for the company.
Glencore’s offer values Viterra at 11 times expected 2012 Ebitda. Applied to Moore’s 2014 Ebitda target, that multiple would value GrainCorp at A$13.94 a share. Because GrainCorp is smaller than Viterra, a lower multiple is more appropriate, with 9 times being the “average for Australian agribusinesses,” Moore wrote in a March 21 research note.
Applying the same 9 times Ebitda multiple to GrainCorp’s “sustainable” earnings of about A$260 million, Citigroup’s Mitchell says the company is worth about A$11 a share in a takeover. For the current year, GrainCorp is forecasting Ebitda of between A$350 million and A$380 million.
Make a Move
Buyers may wait for a pullback in the grain harvest, which has pushed GrainCorp’s earnings beyond levels likely in the long term, said James Ferrier, an analyst at Wilson HTM Investment Group (WIG) in Melbourne.
“If GrainCorp was to get a bid, it would more likely happen when the weather cycle turns and we go back into a few dry years, similar to the scenario when Viterra acquired ABB Grain,” he said.
The A$1.9 billion purchase of South Australia-focused ABB Grain Ltd. was struck in May 2009, after two drought-affected harvests. Including the value of ABB’s debt, Viterra paid 17 times Ebitda, according to data compiled by Bloomberg. The company touted the acquisition’s potential to “provide greater exposure to the higher-growth Asian import market,” according to a statement at the time.
Australia has one of the world’s most variable rainfall climates, with three good years and three bad years every decade, according to the nation’s Bureau of Meteorology. Last year was Australia’s third-wettest year on record.
Still, takeovers in Australia will continue, said Mike Chaseling, deputy chairman of grain trader Emerald Group Australia Pty.
“The big question, post-Viterra, is does somebody look to make a move on GrainCorp?” he said. “We don’t think it stops here.”
quelle bloomberg
Trading Spotlight
Antwort auf Beitrag Nr.: 43.324.364 von mr.lukoil am 27.06.12 08:38:26[ » ah nachrichten für die Landwirschaft » Wirtschaft » GrainCorp-GermanMalt ]
Mittwoch, 27.06.2012
Wirtschaft | 26.07.2011 Redaktion agrarheute.com
Mälzerei-Übernahme: GrainCorp kauft German Malt
Sydney/Osthofen - Die Mälzerei-Branche befindet sich im Umbruch: Die Australier GrainCorp drängen nach Europa, um am einflussreichen europäischen Markt mitzumischen.
Mälzerei-Übernahme: GrainCorp kauft German Malt
Bild vergrößern
Mälzerei-Übernahme: GrainCorp kauft German Malt
Der australische Getreidehandelskonzern GrainCorp Limited, Sydney, wird die deutsche German Malt GmbH & Co KG, Osthofen, übernehmen. Das gaben beide Unternehmen bekannt.
Im Zuge der Übernahme wird German Malt seine 50%ige Beteiligung an der Global Malt GmbH & Co KG an die Tivoli Malz GmbH abgeben. Damit hält Tivoli künftig sämtliche Anteile an Global Malt sowie 60 Prozent an Global Malt Polska. Die Gesellschafter von German Malt, die Schill-Malz GmbH & Co KG und die C. Thywissen GmbH, haben ihre Anteile am vergangenen Freitag an GrainCorp verkauft.
German Malt: Jahresproduktion von 200.000 Tonnen Malz
German Malt betreibt vier Mälzereien in Worms, Mülheim an der Ruhr, Sangerhausen und Clingen. Außerdem unterhält das Unternehmen ein exklusives Lohnmälzungs-Abkommen mit der Malzfabrik Kalscheuren in Hürth. Die Jahresproduktion der Gruppe beläuft sich auf rund 200.000 Tonnen Malz.
GrainCorp zahlt für die Übernahme einen Kaufpreis von 58 Millionen Euro. Die Zustimmung des Bundeskartellamtes wird bis Ende November erwartet.
GrainCorp: Weltweit an der Spitze
GrainCorp ist einer der weltweit größten Malzerzeuger mit einer jährlichen Produktion von 1,2 Millionen Tonnen in Australien, Kanada, den USA und Großbritannien. Alison Watkins, die Vorstandsvorsitzende der börsennotierten Gesellschaft, erklärte, eine aktive Teilnahme am einflussreichen europäischen Gersten- und Malzmarkt sei für GrainCorp strategisch wichtig. Der Sektor sei im Umbruch und jetzt wäre die richtige Zeit nach Europa zu kommen, um von den stattfindenden Veränderungen zu profitieren.
German Malt erhofft sich durch die Zugehörigkeit zu einer der weltweit führenden Mälzereigruppen einen besseren Zugang zu den internationalen Märkten und den globalen Brauereigruppen.
Mittwoch, 27.06.2012
Wirtschaft | 26.07.2011 Redaktion agrarheute.com
Mälzerei-Übernahme: GrainCorp kauft German Malt
Sydney/Osthofen - Die Mälzerei-Branche befindet sich im Umbruch: Die Australier GrainCorp drängen nach Europa, um am einflussreichen europäischen Markt mitzumischen.
Mälzerei-Übernahme: GrainCorp kauft German Malt
Bild vergrößern
Mälzerei-Übernahme: GrainCorp kauft German Malt
Der australische Getreidehandelskonzern GrainCorp Limited, Sydney, wird die deutsche German Malt GmbH & Co KG, Osthofen, übernehmen. Das gaben beide Unternehmen bekannt.
Im Zuge der Übernahme wird German Malt seine 50%ige Beteiligung an der Global Malt GmbH & Co KG an die Tivoli Malz GmbH abgeben. Damit hält Tivoli künftig sämtliche Anteile an Global Malt sowie 60 Prozent an Global Malt Polska. Die Gesellschafter von German Malt, die Schill-Malz GmbH & Co KG und die C. Thywissen GmbH, haben ihre Anteile am vergangenen Freitag an GrainCorp verkauft.
German Malt: Jahresproduktion von 200.000 Tonnen Malz
German Malt betreibt vier Mälzereien in Worms, Mülheim an der Ruhr, Sangerhausen und Clingen. Außerdem unterhält das Unternehmen ein exklusives Lohnmälzungs-Abkommen mit der Malzfabrik Kalscheuren in Hürth. Die Jahresproduktion der Gruppe beläuft sich auf rund 200.000 Tonnen Malz.
GrainCorp zahlt für die Übernahme einen Kaufpreis von 58 Millionen Euro. Die Zustimmung des Bundeskartellamtes wird bis Ende November erwartet.
GrainCorp: Weltweit an der Spitze
GrainCorp ist einer der weltweit größten Malzerzeuger mit einer jährlichen Produktion von 1,2 Millionen Tonnen in Australien, Kanada, den USA und Großbritannien. Alison Watkins, die Vorstandsvorsitzende der börsennotierten Gesellschaft, erklärte, eine aktive Teilnahme am einflussreichen europäischen Gersten- und Malzmarkt sei für GrainCorp strategisch wichtig. Der Sektor sei im Umbruch und jetzt wäre die richtige Zeit nach Europa zu kommen, um von den stattfindenden Veränderungen zu profitieren.
German Malt erhofft sich durch die Zugehörigkeit zu einer der weltweit führenden Mälzereigruppen einen besseren Zugang zu den internationalen Märkten und den globalen Brauereigruppen.
Antwort auf Beitrag Nr.: 43.324.364 von mr.lukoil am 27.06.12 08:38:26GrainCorp, Getreide boomt, Gewinne und Aktie auf Rekordfahrt
(shareribs.com) Sydney 22.05.2012 - Australiens Getreidekonzern GrainCorp strotz regelrecht vor Kraft. Das Unternehmen gab ein hervorragendes Halbjahresergebnis bekannt und schraubte seine Prognosen für das Gesamtjahr ordentlich nach oben.
Den Unternehmensangaben zufolge war der Nettogewinn im ersten Halbjahr (31. März) gegenüber dem Vergleichszeitraum des Vorjahres um satte 52,5 Prozent oder 46 Mio. Dollar auf 133,70 Mio. Dollar geklettert.
Dabei haben die Bereiche Land und Logistik, zu der Getreide-Lagerung und Transport gehören, ihre Gewinne auf Grund höherer Mengen und geringerer Erntekosten mit 73 Mio. Dollar im ersten Halbjahr nahezu verdoppelt.
GrainCorp wird eine Zwischendividende von 15 Cent je Aktie, plus eine Sonderdividende von 15 Cent, zahlen.
Laut dem Geschäftsführer Alison Watkins geht das Unternehmen nun von einem Gesamtjahresgewinn von 185 bis 205 Mio. Dollar aus. Die bisherige Prognose lag um 20 Millionen Dollar niedriger.
Bis zum Ende des Jahres (30. September) wird mit einem Volumen von 10 Millionen Tonnen exportiertes Getreide gerechnet, so Watkins. Dazu kommt die Erwartung, dass der Malz-Absatz kräftig nach oben gefahren und 1,35 Millionen Tonnen erreichen wird.
Die Erntevorhersagen sind im Allgemeinen sehr positiv ausgefallen und die Pflanzungen laufen bereits auf Hochtouren. Den meisten Züchtern in Ost-Australien würden die Regenfälle der nächsten Wochen zugutekommen.
Sie stellen sicher, dass die Pflanzungen einen guten Start haben und GrainCorp von den höheren Erträgen aus jedem seiner vier großen Unternehmen profitieren wird.
Die Zahlen, die Dividenden-Ankündigung und die Prognosen kommen bei den Anlegern sehr gut an.
Die Aktie kann sich im Nachmittagshandel um kräftige 7,1 Prozent auf ein Vierjahreshoch von 9,52 AUD nach oben schrauben.
(shareribs.com) Sydney 22.05.2012 - Australiens Getreidekonzern GrainCorp strotz regelrecht vor Kraft. Das Unternehmen gab ein hervorragendes Halbjahresergebnis bekannt und schraubte seine Prognosen für das Gesamtjahr ordentlich nach oben.
Den Unternehmensangaben zufolge war der Nettogewinn im ersten Halbjahr (31. März) gegenüber dem Vergleichszeitraum des Vorjahres um satte 52,5 Prozent oder 46 Mio. Dollar auf 133,70 Mio. Dollar geklettert.
Dabei haben die Bereiche Land und Logistik, zu der Getreide-Lagerung und Transport gehören, ihre Gewinne auf Grund höherer Mengen und geringerer Erntekosten mit 73 Mio. Dollar im ersten Halbjahr nahezu verdoppelt.
GrainCorp wird eine Zwischendividende von 15 Cent je Aktie, plus eine Sonderdividende von 15 Cent, zahlen.
Laut dem Geschäftsführer Alison Watkins geht das Unternehmen nun von einem Gesamtjahresgewinn von 185 bis 205 Mio. Dollar aus. Die bisherige Prognose lag um 20 Millionen Dollar niedriger.
Bis zum Ende des Jahres (30. September) wird mit einem Volumen von 10 Millionen Tonnen exportiertes Getreide gerechnet, so Watkins. Dazu kommt die Erwartung, dass der Malz-Absatz kräftig nach oben gefahren und 1,35 Millionen Tonnen erreichen wird.
Die Erntevorhersagen sind im Allgemeinen sehr positiv ausgefallen und die Pflanzungen laufen bereits auf Hochtouren. Den meisten Züchtern in Ost-Australien würden die Regenfälle der nächsten Wochen zugutekommen.
Sie stellen sicher, dass die Pflanzungen einen guten Start haben und GrainCorp von den höheren Erträgen aus jedem seiner vier großen Unternehmen profitieren wird.
Die Zahlen, die Dividenden-Ankündigung und die Prognosen kommen bei den Anlegern sehr gut an.
Die Aktie kann sich im Nachmittagshandel um kräftige 7,1 Prozent auf ein Vierjahreshoch von 9,52 AUD nach oben schrauben.
haben im Bereich Getreidelogistik eine monopolartige Stellung im australischen Markt. Wachsen zudem organisch und über Akquisitionen (z.b. im Malzbereich letztes Jahr durch Übernahme der Schill Malz).
Günstige Bewertung auf Basis aktueller Zahlen. Die Dividende wird halbjährlich gezahlt. Am 2. Juli kommt die nächste, von der die Hälfte eine Sonderdividende ist, was in den letzten Jahren immer wieder vorkam.
Niedrige Verschuldung etc. gibt es ontop.
Ist nicht nur einen Blick wert
bin auch investiert. Aktuell gibt es ja einen leichten Rücksetzer, so dass man noch mal günstiger reinkommen kann.
Günstige Bewertung auf Basis aktueller Zahlen. Die Dividende wird halbjährlich gezahlt. Am 2. Juli kommt die nächste, von der die Hälfte eine Sonderdividende ist, was in den letzten Jahren immer wieder vorkam.
Niedrige Verschuldung etc. gibt es ontop.
Ist nicht nur einen Blick wert
bin auch investiert. Aktuell gibt es ja einen leichten Rücksetzer, so dass man noch mal günstiger reinkommen kann.
zahlen aktuell 7,1% Dividende; habe mir mal ein paar Ansichtsstücke geholt
Sind vielleicht im Zuge der derzeitigen Akquisitionswelle (Marubeni/Gavilon, Glencore/Viterra) einen Blick wert...
Durchsuchen
