Latest Divestments News

Kelsian’s proposed sale of its Tourism Portfolio to Journey Beyond has cleared the ACCC, removing a major regulatory condition before completion. The transaction still requires FIRB approval, contract consents and other conditions, with completion expected in 1HFY27.

Babylon Pump & Power (ASX:BPP) says it has satisfied the conditions attached to its revised NAB debt facilities and has sufficient working capital after completing its recapitalisation. The company is now positioning itself as a focused water-management rental business, although ASX has not yet confirmed when trading will resume.

Elixinol Wellness has finalized the divestment of its US operations to Ananda Health, securing upfront and deferred payments totaling approximately A$465,000. This move refocuses the company on its Australian health and wellness portfolio while reducing exposure to US regulatory risks.

Lithium Plus Minerals has significantly upgraded its Lei Lithium Project resource and secured a 20-year mining lease, positioning the company for near-term development and commercialisation.

Codrus Minerals Limited posted a $1.41 million loss for FY26 as it confirmed gold and molybdenum mineralisation at Bull Run, rationalised its portfolio, and secured a binding acquisition of EdgeMet with a $2.5 million capital raise underway.

Forrestania Resources completes A$300 million purchase of Edna May Gold Project, adding a second processing hub in Western Australia and raising over A$215 million in a major capital placement.

Galilee Energy posted a $5.42 million loss for FY2026 amid heavy investment in its US Zydeco Gas Project and progressing the sale of its Australian Glenaras asset. The company is pivoting to US operations with drilling underway and a $3.5 million placement announced.

Peter Warren Automotive has secured ACCC approval for its acquisition of Wakeling Automotive’s dealerships in Sydney’s Macarthur region, contingent on divesting eight sites to maintain local competition.

The ACCC has approved Peter Warren Automotive's acquisition of Wakeling Automotive's dealerships in Sydney's Macarthur region, conditional on divesting eight sites to preserve competition.

Alice Queen's subsidiary Monzonite Metals has agreed to sell its non-core NSW tenement EL8646 to Alkane Resources for $900,000 cash, sharpening focus on the Horn Island Gold Project in Queensland.

Great Northern Minerals (ASX: GNM) reported a $3.8 million loss for FY26 amid major US acquisitions, including the Iron Butte gold-silver project with a maiden resource of 480,000 oz gold and 11.5 million oz silver, and the Catalyst Ridge rare earths project. The company also completed a $2 million divestment of its remaining Golden Ant interest.

Ingenia Communities Group has secured unconditional contracts to sell six New South Wales communities, releasing $124 million in capital that will be deployed into higher-growth projects and debt reduction.