MARKET TALK: Citi Points Out JVs That Could Turn Into Acquisitions

1st Jul 2010 02:59

0159 GMT [Dow Jones] Joint ventures could be the way to go for cashed up Aussie corporations looking to expand. With the appetite for acquisitions remaining subdued, JVs are temporary structures that can be dissolved in the event of an acquisition, Citi points out in a strategy note. Broker points out several opportunities in the market where a buyout of a JV partner could be "possible and/or logical" including ANZ (ANZ.AU), which holds a percentage of Panin Bank; BHP Billiton (BHP.AU), given its JV with BP (BP.LN) in the Gulf of Mexico; Harvey Norman (HVN.AU) through its HVN Asia JV; Insurance Australia(IAG.AU) through its JV with NTI Ltd.; Metcash (MTS.AU) through its JV with Mitre 10, to name a few. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires June 30, 2010 21:59 ET (01:59 GMT)