Here are the headlines from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles on Monday morning, with Ramsay Health Care Limited’s (ASX: RHC) European expansion in focus.
But first, here are the data points:
Australian Dollar ($A) (AUDUSD): 74.2 US cents
Dow Jones (DJI): up 0.4%
Oil (WTI): $US70.76 per barrel
Gold: $US1,241 per ounce
Australian Investing News
Making finance news, Australian investors have had the weekend to digest an announcement from Ramsay Health Care Limited (ASX: RHC). On Friday evening, Australia’s leading private hospital owner announced its 50.9%-owned French subsidiary, Ramsay Générale de Santé (RGdS), will buy Capio AB for an equity valuation of EUR 661 million ($1.04 billion).
“Capio has a strong portfolio of healthcare facilities in Europe and is a good strategic fit for RGdS,” Ramsay CEO Craig McNally said. “The combined group would be uniquely positioned in the private European healthcare sector with a geographic footprint spanning six countries with strong underlying growth fundamentals, and would further contribute to making Ramsay a leading global provider of healthcare services.”
Also in the news, Australia’s largest toll road operator Transurban Group (ASX: TCL) announced the early completion of Victoria’s Monash Freeway upgrade. Transurban owns CityLink, which connects to the Monash Freeway.
Marijuana business AusCann Group Holdings Limited (ASX: AC8) revealed that it will issue up to $8 million of new shares via a share purchase plan (SPP) at $1.05 per share. The offer to smaller shareholders follows a $33.4 million share issuance to institutional and ‘sophisticated’ investors last week.
AusCann said the proceeds raised from selling new shares will fund, “cannabinoid pharmaceutical R&D and clinical studies, expansion of its operations in Chile and Australia, medical outreach programs in new international markets and working capital.”
Select Harvests Ltd (ASX: SHV), a leading almond producer, announced it has struck an agreement with PepsiCo Foods in China. The deal will enable Select Harvests to sell its Lucky branded nuts, seeds and blends in China. Select Harvests will produce the products, PepsiCo will sell them.
Select Harvest General Manager Mark Eva said, “Entering the China market in partnership with PepsiCo is extremely exciting for Select Harvests and the Lucky brand.”
In 1945, Warren Buffett took $1,200 he made in business and bought 40 acres of farm in Nebraska. He was 14. Buffett was a millionaire by his late 20’s but ‘only’ worth $300m at his 50th birthday. Now he is a $US84 billion investor.
That means he made 99% of his wealth after turning 50! How does a 50-year-old do that when the world seems to be falling apart? Download the free Aussie investing ebook, “What Buffett’s Investing Checklist Can Teach Aussie Investors“ when you join the free Rask Group Investor Club Newsletter. You’ll get insights into the 4 steps Buffett uses to pick his investments.
