Malaysia’s KT Lim has returned to the scene by increasing his stake in Echo Entertainment, but not by as much as we’d expect from a billionaire. What’s going on here? Elders reportedly has a US private equity firm on the line for its Futuris business after Ruralco’s offer for its rural services arm disappointed. Meanwhile, AustralianSuper is leading the super industry consolidation push, Stonewall Mining’s Chinese suitor has raised a handy $US300 million for its offer and Billabong International’s share price has hit some fresh all-time lows.
Genting Hong Kong, Echo Entertainment
Malaysian casino mogul KT Lim has sparked widespread chatter about his plans for Echo Entertainment with what is actually a very modest purchase of the Australian company’s stock.