Ventia awarded NZ road maintenance contract, CSL to acquire Vifor Pharma and A2 Milk closer to exporting to US

Ventia Services (ASX: VNT) has been awarded a road maintenance contract by Auckland Transport for New Zealand’s Auckland West region.

The contract term is for five years and is set to commence on 1 September and generate a base value of NZ$220 million across the initial term. It has an option to be extended for a further five years.

Venita will offer its reactive, routine and programmed maintenance and renewal activities across the network, which spans through both urban and rural domains.

Ventia group executive transport David McPadden said the contract was a result of the company’s “deep expertise” in road maintenance.

“Ventia is a leading provider of strategic operations and maintenance, asset management and renewal services to the transport sector,” he said.

“Across New Zealand, our clients have relied on us to manage their complex road networks in safe, reliable ways for more than 30 years.”

CSL

Biotechnology giant CSL (ASX: CSL) has confirmed it has received all regulatory clearances in its attempt to complete the company’s biggest purchase to date – acquiring Switzerland-headquartered Vifor Pharma for US$11.7 billion (US$11.7 billion).

CSL first announced its ambitions to acquire the company, when it launched its offer of US$179.25 per Vifor share back in December 2021.

Raising significant cash to complete the deal, the biotech company believes the acquisition will assist its efforts on areas such as hematology and thrombosis, cardiovascular-metabolic and transplant.

CSL chief executive officer Paul Perrault said acquiring Vifor would enhance CSL’s ability to protect those facing rare and serious medical conditions.

“Joining CSL, the Vifor business adds near-term value along with a clear path to long-term sustainable growth,” he said.

“It also adds an outstanding management team, along with a high-value and complementary portfolio of products and market leading position in the nephrology and iron deficiency spaces.”

The completion of the deal is expected to be finalised on 9 August.

Ramsay Healthcare

Australia’s biggest private hospital operator Ramsay Healthcare (ASX: RHC) has announced its Hospital Purchaser Provider Agreement (HPPA) contract with Bupa has come to an end.

The contract between both parties was terminated after terms on a new contract were unable to be agreed upon.

Ramsay gave its first notice of the possible termination in early May, but the deal was finally officially terminated on Tuesday this week.

The news could impact Bupa-insured patients at one of Ramsay’s 72 private hospitals – leaving them out of pocket potentially hundreds of dollars.

Both Ramsay and Bupa will continue to negotiate in the hope of reaching an agreement regarding a new HPPA in the near future.

Evolution Mining

Evolution Mining (ASX: EVN) has debuted a new mineral resource estimate for its Ernest Henry mine in Queensland.

The estimate is based on more than 30,000m of drilling from 119 holes at the site.

Evolution executive chairman Jake Klein said the company is pleased with the rise in mineral resources at Ernest Henry, which now contains 1.13Mt of copper and 2.07Moz.

“The result reinforces Ernest Henry as a premier copper/gold asset that has generated exceptional shareholder returns,” he said.

“This new mineral resource estimate highlights the exciting extension potential we see at the operation.”

“As the mineral system remains open at depth there is potential for further resource additions with the completion of further drilling,” he added.

A2 Milk

Shares in Australia-owned A2 Milk (ASX: A2M) jumped more than 12% this week before it entered a trading halt.

The company submitted its application to the US Food and Drug Administration (FDA) to supply infant milk formula in the country back in May during the country’s supply crisis.

In an announcement on Tuesday, A2 Milk revealed it was closer to winning approval to sell its formula in the United States – with rumours it could get the green lights “as soon as this week”.

“While we have been informed by the FDA that our application is under active review, at this stage there is no certainty as to the outcome of the application or the timing of any approval,” it added.

The US has been looking across the globe for infant formula supplies in the midst of one of the biggest infant formula shortages in recent history surging across the country.

A2 Milk will hope to follow in the footsteps on Bubs Australia (ASX: BUB), which commenced shipping its formula to the US back in May this year.