News - Page 5 of 22 - SLM Corporate

14 Nov

SLM Corporate appointed by Kentucky Fried Chicken Pty Ltd (KFC Australia) in relation to the potential divestment and re-franchising of approximately 100 company-owned KFC outlets across Australia.

In Announcements,Important,M&A Advisory,News by SLM / November 14, 2016 / 0 Comments

SLM Corporate is pleased to announce that it has been appointed Corporate Adviser to Kentucky Fried Chicken Pty Ltd (KFC Australia) in relation to the potential divestment and re-franchising of approximately 100 company-owned KFC outlets across Australia.

KFC Australia is a subsidiary of NYSE-listed Yum Brands Inc, which also owns and operates the Pizza Hut and Taco Bell restaurant chains.

In its role as Corporate Adviser, SLM will be overseeing and conducting the divestment process which will involve the sale of company-owned outlets to a range of existing franchisees who have attained “growth partner” status within the KFC franchise system.  The divestment process is scheduled for completion by December 2017.

For further information in relation to this matter, please contact:

Barry Lewin
Managing Director
SLM Corporate
W: 03 9244 9644
M: 0419302493
barry.lewin@slmcorporate.com.au

Kuo ning Ho
Director
SLM Corporate
W: 03 9244 9666
M: 0430809555
barry.lewin@slmcorporate.com.au

11 Oct

SLM advises Spicers Limited (ASX: SRS) on a proposed transaction to simplify Spicers’ capital structure

In M&A Advisory by SLM / October 11, 2016 / 0 Comments

We are pleased to announce that SLM Corporate is advising Spicers on a proposed transaction to simplify Spicers’ capital structure. This transaction, which would be effected by inter-conditional schemes of arrangement (a share scheme for Spicers and a trust scheme for The Trust Company, the responsible entity of the PaperlinX SPS Trust), will align the interests of the company’s ordinary shareholders and SPS unitholders as well as resolve several operational and capital constraints that the current structure places on the company.

For further information, please contact:

Barry Lewin
Managing Director
SLM Corporate Pty Ltd
+61 3 9244 9644 (office)
+61 419302493 (mob)

31 Aug

Griffiths v Northern Territory of Australia (Timber Creek Compensation Matter)

In General News,Uncategorized by SLM / August 31, 2016 / 0 Comments

Background

SLM recently acted as a financial expert for the Aboriginal parties in the matter of Griffiths v Northern Territory of Australia (“Timber Creek Compensation Matter”). The case involved the economic valuation of Native Title rights and interests principally under the Native Title Act 1993 (Cth) and involved important issues of principle, including the application of well-established rules as to the valuation of compulsorily acquired land and the loss and impairment of traditional rights and interests of Aboriginals in Australia.

On 24 August 2016 the Federal Court ordered the Northern Territory Government to pay $3.3m ($512,000 for the extinguished native title rights, $1,488,261 interest and allowance for solatium of $1,300,000) to Traditional Owners as compensation for the impact of land grants and public works on their native title. This is a landmark decision for Native Title compensation in Australia.

Key Valuation Outcomes

With regard to the valuation of non-exclusive native title rights the presiding justice, Mansfield J, affirmed that:

“the freehold value is an appropriate starting point because s 51A [of the NTA] puts it as the upper limit…[and] [t]o accommodate the fact that they were non-exclusive, clearly some reduction from the freehold value is necessary…in my view, the deduction should not be great in the present circumstances…the appropriate valuation should be 80% of the freehold value.

On the treatment of interest in calculations for compensation, Mansfield J stated that:

“the appropriate interest calculation is simple interest at the rate specified in the Practice Note CM 16.

Mansfield J also asserted that there is insufficient precedent to support the entitlement of compound interest (although the Justice does not preclude the possibility) because there was insufficient commercial activity at the time of act to justify a compounding of returns from investment alternatives and additionally, the Claimants would likely have disbursed the funds for immediate community benefit.

Impact

Media reports suggest that Commonwealth and State Governments could be liable for billions of dollars in native title compensation, since the Timber Creek case covers 23 km2 which is only 0.001% of the 2.3m km2 declared native title land.

About SLM

SLM Corporate is a Melbourne based independent corporate advisory firm. Our clients are shareholders and boards of companies that are publicly listed or privately held, Government and indigenous organisations. We routinely act as a financial expert, and value listed and private businesses, executive and director share options and performance rights, and we have undertaken independent expert reports in a variety of transactions.

For further information please contact:

Barry Lewin

Managing Director

SLM Corporate

Ph: 03 9244 9644 or 0419 302493

Email: barry.lewin@slmcorporate.com.au

www.slmcorporate.com.au

 

08 Aug

SLM advises on the historic Groote Eylandt Royalty Agreement

In Uncategorized by SLM / August 8, 2016 / 0 Comments

In 2006 the Anindilyakwa Land Council (ALC) on behalf of the Traditional Owners entered into a mining agreement with Groote Eylandt Mining Company (GEMCO) owned by South32 and Anglo American respectively.

SLM Corporate was engaged by ALC in mid-2015 and advised throughout the negotiations for a new royalty agreement covering existing leases and an extension of the mine life.

The ALC and GEMCO reached a historic agreement on 28 June 2016, which will provide the ALC with greater surety of economic payments, and help to extend the mine life of GEMCO beyond 2027, providing important benefits for Traditional Owners and future generations at Groote Eylandt. .

SLM is proud to have provided economic advice to ALC throughout this process.

For further information, please contact Kuo ning Ho (Director) on 03 9244 9644.

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