Get documents about "Australia Loi for Offshore Joint Venture Through Foreign Corporation
W
Description
Australia Loi for Offshore Joint Venture Through Foreign Corporation document sample
Document Sample
A SIA N T R A N S P OR T
A N D L O G I S T I CS NE WS LE T T E R
SEPTEMBER 2008, ISSUE 56
A Quarterly newsletter of developments in the transport and logistics markets
CONTENTS
Welcome to the Asian Logistics professional staff throughout Asia,
AUSTRALIA.................... 1
Newsletter. This publication was initiated the Middle East, Europe, and the US.
CHINA.......................... 1
to address the growth of opportunities If you think that BDA’s services may
in the Asian logistics market. We hope be useful to you, please contact us at HONG KONG................... 2
you find the Asian Logistics Newsletter any one of our offices or email me at INDIA........................... 2
informative. pdigiacomo@bdallc.com. Contact details INDONESIA.................... 3
for our offices are at the back of this JAPAN.......................... 3
Business Development Asia (“BDA”) is newsletter. We look forward to speaking
KOREA.......................... 3
an investment banking firm specializing with you in the future.
in executing cross-border transactions
M A L AY S I A . . . . . . . . . . . . . . . . . . . . . 4
involving Asia, including acquisitions, SINGAPORE.................... 4
divestments, JVs, capital raising, and Paul DiGiacomo, Managing Director U N I T E D A R A B E M I R AT E S . . . 4
restructuring. We have offices and pdigiacomo@bdallc.com VIETNAM....................... 4
Australia Toll Holdings Ltd, an Australian in Canada, Hong Kong and the US, for
transportation and logistics solutions an undisclosed consideration, in an
provider, has acquired Gluck Forwarding attempt to expand its network in the
Canada Pension Plan Investment Systems Pty Ltd, a provider of forwarding country. June 4, 2008
Board (“CPPIB”) acquired 10% of and warehousing services, for US$31m.
Australia’s Transurban Group, the toll June 10, 2008 Air France-KLM and China Southern
road developer and manager that owns AIrlines have signed a framework
two major motorways in Melbourne and Toll Transport Pty Ltd, a subsidiary of agreement to create a cargo JV. The
Sydney, for US$635m. The money will Toll Holdings Ltd, has acquired Extra two carriers are planning to operate 93
be used to develop new road portfolios. Transport Group Pty Ltd, a provider of flights a week from Spring of 2010, from
CPPIB partnered with Transurban and transportation and logistics services, Guangzhou, Shanghai and Tianjin. The
Goldman Sachs Group Inc in their from Peter Ferrari for US$43m. July 9, JV will be completed by the end of 2008.
unsuccessful bid for the Pennsylvania 2008 June 2, 2008
turnpike toll road this year. June 19,
2008 Fraport AG, the operator of Frankfurt
China Airport in Germany, launched a JV with
DHL Express and New Zealand Post Ltd China’s Xi’an Internation Airport Co to
will form a A$200m (US$161m) 50:50 Agility Logistics, the Kuwait logistics build a new company that will operate
courier business JV in Australia under firm, has agreed to acquire Cosa Freight, Xi’an Xianyang International Airport.
the name Express Couriers Australia Pty an ocean freight forwarder with six Fraport AG will focus on establishing
Ltd. June 30, 2008 offices across China as well as locations more international air routes, as well
2
ASIAN TRANSPORT AND LOGISTICS NEWSLETTER SEPTEMBER 2008, ISSUE 56
as developing retail and real estate areas of customs clearance, heavy Hong Kong
businesses at the airport. Fraport AG oversized cargo handling and inland
will own 24% of the JV. The transaction transportation services. July 2, 2008
amount was not disclosed. September Grand Power Logistics Group Inc is
17, 2008 Tianjin Port Co, a Chinese port operator, growing in the Chinese logistics sector
has entered into an agreement with and has announced two deals. The
ProLogis Inc, one of the world’s CMA CGM Group, a container operator first agreement is an LOI with local
largest industrial distribution property and Hong Kong’s Asia International government in Shanghai to acquire
developers, and Guangzhou Nansha Shipping to build and operate a the land use rights for 100,000 m2 of
International Logistics Co will set up container terminal in the port of Tianjin. development property at Shanghai
a JV engaged in the development of The JV, with a 50-year operating period, Pudong International Airport to build
the Guangzhou Nansha International will be jointly invested by Tianjin and operate bonded and non-bonded
Logistics Park. The development Port (60%),CMA CGM (20%) and Asia warehouse and logistics facilities. The
will be supported by the Guangzhou International Shipping (20%) and second agreement is an MOU with an
Municipal Government. July 21, 2008 will be operational in 2011. The total undisclosed industrial property group
registered capital is US$220m. August to form a JV for the finance, construction
Rizhao Port Co, a Chinese bulk cargo 25, 2008 and operation of the facilities. August
warehousing and shipping company, 18, 2008
has acquired 64% of Lanshan VOTG Tanktainer, the tank container
Wansheng, an iron ore transportation logistics unit of VTG Aktiengesellschaft, Temasek Holding Pte Ltd, a Singaporean
company for an undisclosed amount. has signed an agreement with Vopak firm, has agreed to pay US$500m for 5%
Lanshan Wansheng reported net profit North China, a subsidiary of tank of Li & Fung Ltd. Li & Fung is an export
of US$11m in 2007. July 14, 2008 terminal operator Royal Vopak, to trading firm that manages the supply
acquire Vopak’s 50% stake in Cosco- chain for major brands and retailers.
Sinotrans Group, China’s largest Vopak Logistics Co, a chemical logistics September 7, 2008
logistics service provider, and China services JV in China. July 2, 2008
Yangtze Transportation Group, the
country’s largest river transport firm, Mainland China saw a high level of India
have agreed to a merger which will merger activity in the logistics industry
create the second-largest shipping and from 2006 through Q1 2008 but with
logistics firm by assets in China after less involvement of foreign capital. In DP World Ltd, the global ports operator,
Cosco Group. July 22, 2008 2006, there were 15 mergers of over has agreed to acquire a 25% stake in
US$50m, with a total transaction value Chennai Container Terminal Pvt Ltd,
S i n o t ra ns G ro u p h a s s i g n e d a n of US$9.4bn, in 2007 there were 20 a Chettinad Logistics Pvt Ltd (Jakari
agreement to operate a JV logistics deals worth US$4.1bn and in Q1 2008 Group) company. The size of the
company in Saudi Arabia in partnership there were four deals worth US$700m. transaction was not disclosed. May 30,
with the local Almajdouie Group. Foreign capital participated in 40% 2008
Established in 1965, Almajdouie Group of the mergers in 2006, 38% in 2007
is engaged in supply chain management and 33% in Q1 2008. Totally domestic Greatship Ltd, an offshore oilfield
and third party logistics services. The mergers rose from 2% to 62% in 2007 services provider and subsidiary of GE
joint company, Almajdouie Sinotrans and to 67% during Q1 2008. Shipping Company Ltd, has announced
Middle East, will operate in the May 27, 2008 a new JV with Norway-based DOF Subsea
3
ASIAN TRANSPORT AND LOGISTICS NEWSLETTER SEPTEMBER 2008, ISSUE 56
ASA, a supplier of subsea services. Shipping Corp of India (“SCI”) is a US$720m railway project in South
The newly formed venture will be hoping to revive its recently proposed Sumatra. PTBA will own 30% stake
known as Greatship DOF Subsea Pvt JV with Oil and Natural Gas Corp while the rest will be owned by PT
Ltd. The JV will focus on subsea (“ONGC”). In March 2006, SCI and Kereta Api. The transaction amount
project opportunities in the Indian ONGC signed a float document with has not yet been disclosed. September
subcontinent. The transaction amount PSA Marine that would provide repair 18, 2008
was not disclosed. September 8, 2008 services to each of the firms’ vessels.
The one year float document expired
G rea t O f fs h o re L td, a n o f f s h o r e and PSA Marine withdrew from the Japan
oil service provider, has acquired original JV agreement. SCI is in search
two maritime services companies, of a third JV partner, offering the new Japan Post Holdings Co and Nippon
Rajamahendri Shipping & Oilfield partner a 21% shared equity in the Express Co will own 66% and 34%,
Services Ltd and KEI-RSOS Maritime firm. The transaction amount was not respectively, of a new parcel delivery
Ltd, for US$36.5m in a move to bolster disclosed. September 1, 2008 JV. The current 50:50 JV, JP Express Co,
its port management and offshore was set up in Tokyo in June 2008 to
logistics. September 2, 2008 Steel Authority of India (“SAIL”) prepare for the integration of the two
signed an MOU with Shipping Corp of companies’ parcel delivery operations
IDFC Private Equity Fund II, a venture India to promote a JV that will provide on 1 April 2009. The JV will also launch
fund of Infrastructure Development various shipping-related services to a new brand to replace Japan Post’s
Finance Corp, has acquired 22% of SAIL to import coking coal. The JV may Yu-Pack and Nippon Express’ Pelican
Hyderabadi-based Seaways Shipping also participate in the world-wide dry brands. August 28, 2008
Ltd, a leading Indian maritime operator, bulk shipping trade. July 1, 2008
for US$28m. June 10, 2008 Vopak NV, the Dutch tank terminal
Private equity and venture capital company servicing the chemical and oil
Indian Railways, the state-owned investors are preparing funds in excess industries, will acquire two terminals in
Indian railway company, is in talks of US$2bn to invest in India’s maritime Japan through Nippon Vopak, its JV with
with companies such as Siemens infrastructure and logistics, as the Nippon Express Co and Nagase & Co in
and Bombardier Inc to form a JV to country strengthens cargo handling which it has 40% ownership. Nippon
manufacture stainless steel railway facilities to meet rising trade. 95% of Vopak will acquire 100% of both the
wagons and coaches. India Railways India’s external trade by volume and Nagoya and Moji Tank terminals which
plans to invest US$430m per annum, 70% by value is transported by sea. are involved in the importation of
and will retain a 26% stake in the JV. June 27, 2008 chemical and oil products by container
September 16, 2008 vessels as well as storage and loading
for outgoing ships. August 1, 2008
K h a l e e j i Co m m e r c i a l B a n k h a s Indonesia
launched Global Logistix Navi Mumbai
Investment Co with a target capital Korea
of US$430m. The fund will aid in the Indonesian coal-mining company PT
development of India’s first integrated Tambang Batbara Bukit Asam (“PTBA”)
logistics city project on a 400 acre site and railway company PT Kereta Api, United Parcel Service (“UPS”) has
in Navi Mumbai, Maharashtra. both state-owned, plan to establish a agreed to purchase the remaining of
July 16, 2008 JV that will handle the construction of shares of UPS Korea Express, its JV with
4
ASIAN TRANSPORT AND LOGISTICS NEWSLETTER SEPTEMBER 2008, ISSUE 56
The Korea Express Co. The shares were Partners. The transaction is an MBO terminal, port, transport operations
bought for an undisclosed amount. backed by the Bahraini bank. August and longstanding links with various
June 18, 2008 18, 2008 shipping lines. July 21, 2008
Arcapita Bank acquired UK-based Topaz Energy & Marine Ltd, an Emirati
Malaysia road, rail and bulk service provider, oil and gas services company, acquired
Freightliner Group Ltd, for US$364m. Doha Marine Services, a Qatari marine
MMC Corporation Bhd (“MMC”) will Arcapita acquired the business from company, for US$124m. May 3, 2008
acquire the entire stake in Senai Electra Partners LLP, 3i Group Plc, and
Airport Terminal Services Sdn Bhd Freightliner management. June 13, 2008
(“SATS”) and make a voluntary general Vietnam
offer for Aliran Ihsan Resources Bhd D P Wo r l d L t d , t h e g l o b a l p o r t s
(“AIR”) to accelerate the group’s operator, has acquired 60% of Spanish China Merchant Holdings, the
international expansion drive in the Contarsa Sociedad de Estiba SA for an largest container terminal operator
logistics and utilities businesses. undisclosed amount, continuing DP by volume in Shenzhen, has formed
MMC will acquire SATS for US$577m in World’s global expansion. Contarsa a US$60m 49:51 JV with Vietnam
an all-share deal and AIR for US$71m Sociedad de Estiba is a marine cargo National Shipping Lines Corp. The
in cash. August 4, 2008 handling company. June 17, 2008 new venture will construct the Ben
Dinh Sao Mai Deep Seaport in Vietnam.
Etizen Maritime Ser vices ASA, a The new agreement is part of a larger
Singapore Norwegian ship manager and service development agreement signed in
provider, acquired Seven Seas April 2007 between China Merchant
Shipchandlers, the Dubai-based and Vietnamese authorities, involving
Redmount Holdings of Indonesia, a maritime maintenance, repairs and cooperation in areas including
special purpose vehicle owned by operations provider, for US$115m. May shipbuilding and road infrastructure
Mr. Utaryo Suwanto, Mr. Eka Sinto 9, 2008 developments. China Merchant intends
Kasih Tija, Mr. Rudy Lim and Precious to make other investments in Vietnam.
Treasure Global Inc, has acquired K i n g d o m H o l d i n g Co , t h e S a u d i September 9, 2008
RichLand Group Ltd, a Singaporean i n v e s t m e n t co m p a n y, a g r e e d t o
logistics ser vices company, from purchase Abraaj Capital Holdings Sankyu Inc, the Japanese transportation
Broyland Capital Private Ltd for Ltd’s stake in an executive air transport firm, has opened a new logistics center
US$31m. May 30, 2008 service, National Air Services Ltd. through its subsidiary Sankyu Logistics
Kingdom Holding paid US$311.1m to Vietnam, in Haiduong Province in
increase its stake from 7% to 37%. northern Vietnam. The center, Sankyu
United Arab Emirates June 17, 2008 Logistics Vietnam Freight Center, is
located in the Tan Truong Industrial
Sharjah’s Gulftainer Co announced a JV Zone between Hanoi and Haiphong and
Arcapita Bank of Bahrain has acquired with Turkey’s Demas International. The has total floor space of 13,000 sq. ft.
Compagnie Europeenne de Prestations new company will focus on transport September 8, 2008
L o g i s t i q u e s , a F r e n ch l o g i s t i c s a n d l o g is t i cs co m bi n i ng De mas ’
company, for a cash consideration of Turkish expertise in logistics, trucking Vietnam National Shipping Lines
US$735m from Sagard Private Equity and warehousing with Gulftainer’s (“Vinalines”) and the China Merchants
5
ASIAN TRANSPORT AND LOGISTICS NEWSLETTER SEPTEMBER 2008, ISSUE 56
Group Ltd established a JV to operate a
container port which will cover an area
of 166 acres and will be built in Ba Ria-
Vung Tau, at a cost of US$300m. The
JV partners plan to start construction
in 2009 and finish in 2011. September
16, 2008
To submit stories to future editions of this
newsletter, please contact Paul DiGiacomo
in Hong Kong on (852) 2537-9565 or email
pdigiacomo@bdallc.com.
,
Business Development Asia NEW YORK LONDON
Euan Rellie, erellie@bdallc.com Andrew Huntley, ahuntley@bdallc.com
(“BDA”) is an investment banking
Charles Maynard, cmaynard@bdallc.com Business Development Asia Ltd
firm specializing in executing Business Development Asia LLC 10 Crown Place
cross-border transactions involving The Economist Building, 11th Floor Clifton St
111 West 57th St, New York, NY, 10019 London, EC2A 4FT
Asia and the Middle East, including T (212) 265-5300 T (44) 20-7655-3500
acquisitions, divestments, JVs, F (212) 265-4300 F (44) 20-7655-8913
capital raising, and restructuring.
BAHRAIN MUMBAI
For further information on BDA’s Tamer Makary, tmakary@bdallc.com Rohit Singh, rsingh@bdallc.com
services or on any of the articles in Business Development Asia Business Development Asia
2204 Al Moayyed Tower 898 Notan Plaza, Suite 4A
this newsletter, please contact our Seef District Turner Road, Bandra (West)
offices. Manama, Bahrain Mumbai, 400050, India
T (973) 17567914 T (91) 22-2643-0290
F (973) 17567901 F (91) 22-2643-0291
HONG KONG SHANGHAI
Paul DiGiacomo, pdigiacomo@bdallc.com Jeffrey Wang, jwang@bdallc.com
Business Development Asia (HK) Business Development Asia Co Ltd
#1206 Lippo Centre, Tower 1 The Center, #1602, 989 Changle Road
89 Queensway, Hong Kong Shanghai, 200031, China
T (852) 2537-9565 T (86) 21-5407-5580
F (852) 2537-4406 F (86) 21-5407-5680
Paul DiGiacomo, SEOUL TOKYO
Hans Kim, hkim@bdallc.com Yuuichiro Nakajima, ynakajima@bdallc.com
Managing Director
Business Development Asia Business Development Asia
pdigiacomo@bdallc.com #1201, Gwanghwamun Officia Crane Toranomon Building, 5th Floor
163 Sinmunno 1-Ga, Jongno-Gu 3-20-5 Toranomon, Minato-ku,
Seoul, 110-999, Korea Tokyo, 105-0001, Japan
www.bdallc.com T (82) 2-3276-3150 T (81) 3-3433-5803
F (82) 2-3276-3155 F (81) 3-3433-5269
newsletter@bdallc.com
