Briefs

Quickflix BBC deal

Quickflix signed content licence agreements with BBC Worldwide and MGM Studios this week, expanding its catalogue of content available through internet streaming. BBC television shows will be available from late March, while content from MGM will be available within weeks. Quickflix has existing content deals with Sony Pictures, Warner Bros., NBCUniversal and HBO.

ENERGY

Infratil review

NZ investor Infratil is reviewing its 82 per cent stake in Perth Energy, which owns Kwinana power station and retails electricity in Western Australia. The investment has a book value of $64 million and contributed a gross profit of $5 million to group earnings.

INFRASTRUCTURE

Qube port leases

Qube Logistics Holdings is to pay $47 million for leases held by Westgate Ports and Westgate Port Services at Melbourne's Victoria Dock, through a mixture of cash and shares. Westgate has an 18-year lease remaining over approximately 17 hectares of land at the dock and Qube said it will spend around $15 million over the next 12 to 18 months to develop the asset.

FOOD

Catering settlement

An Australian catering company that sued US-based Kellogg Brown & Root for more than $US27 million over the abrupt termination of a contract to supply thousands of US troops in southern Iraq has struck a deal to settle the case. Morris Corporation, owned by Rob McVicker of Brisbane, and KBR have reached an out-of-court settlement, ending a dispute that has festered since mid-2003.

REGULATION

Trio undertaking

Former Trio Capital chairman, John Godfrey, has entered into an enforceable undertaking with the Australian Prudential Regulation Authority not to act as a trustee or as a responsible officer that is a trustee, investment manager or custodian of an APRA-regulated superannuation entity without obtaining APRA's consent. Mr Godfrey is the sixth Trio director to give an enforceable undertaking to APRA, although he left Trio prior to its collapse in 2009.

COMPENSATION

Ausnet agrees bill

Settlement of the Beechworth bushfire class action will cost SP Ausnet up to $19.71 million, it told the ASX yesterday, with agreement reached to pay 40 per cent of the claimed losses plus 5 per cent interest, up to a cap of $32.85 million. SP Ausnet's share of the settlement is 27 per cent, up to a cap of $19.71 million. The agreement has been reached with no admission of liability, and is subject to court approval.

NOTE ISSUE

AGL raising

AGL is closer to buying out its partners at the Loy Yang A power station, after raising $600 million through an issue of subordinated notes. The notes were issued at a 3.8 per cent margin above the 90 day bank bill rate.