InvestSMART

Briefs

TOLL ROADS

TOLL ROADS

ConnectEast clear

A $2.1 billion agreed takeover offer for toll road owner ConnectEast has gained all regulatory and lender approvals. Investment vehicle Horizon Roads has also received consent from the state of Victoria. ConnectEast's security holders are due to vote on the proposal on September 27.

FUNDS

Perpetual exit

Volatile equity markets and funds outflows drove a 4.7 per cent decline in Perpetual's funds under management during August. The wealth manager and trustee said its funds under management fell to $24.2 billion at August 31 from $25.4 billion at July 31.

AVIATION

iPads on Qantas

Qantas will trial Apple iPads as the airline takes steps towards introducing wireless technology for inflight entertainment. A Boeing 767-300 is being devoted to the trial, starting in October.

NATIVE FORESTS

Gunns halts logging

Gunns has accepted a $23 million offer from the Tasmanian government to cease logging in the state's native forests.

GAMING

Tatts farewell

Tatts Group's wholly owned subsidiary Maxgaming Vic has failed to secure the licence for monitoring Victoria's 27,000 gaming machines after August 2012. That means Tatts' association with gaming in Victoria will end once the new system is introduced.

CONSTRUCTION

New Thiess MD

Leighton Holdings has appointed Bruce Munro as managing director of subsidiary Thiess. Mr Munro previously held several senior positions within Thiess.

INFRASTRUCTURE

China wooed

The West Australian Premier, Colin Barnett, has flown to Beijing to meet government officials as he seeks to save the Oakajee port and rail project. The near-$6 billion development is already well behind schedule and over budget.


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