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Coles Group's Proposed Acquisition of New South Wales Shopping Center Lease Under Phase One ACCC Review

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Coles Group's (ASX:COL) proposed acquisition of a leasehold interest in a New South Wales shopping center is under a phase one review by the Australian Competition and Consumer Commission (ACCC), the regulator said Tuesday.

Australian private company Minto Marketplace operates Minto Mall, a shopping center that is currently anchored by Woolworths Group (ASX:WOW) and Kmart.

The proposed Coles supermarket at the Minto Mall is expected to open on March 1, 2028.

The ACCC has launched a consultation on the deal that runs through June 16, and the phase one assessment is due to end by July 21.

What else is happening in Asia?

Asia

Cosmo Chemical Shares Rise 6% on KRW15.5 Billion EcoPro Supply Deal

Cosmo Chemical (KRX:005420) secured a supply contract for cobalt sulfate, a secondary battery cathode material, from EcoPro (KOSDAQ:086520) subsidiary EcoPro EM, according to a Tuesday Korea Exchange filing.The contract, worth 15.47 billion won, is valid till Dec. 31, 2031.Shares of Cosmo Chemical rose nearly 6% in recent trade.

KOSDAQ:086520KRX:005420
Asia

Grasim Industries Earmarks INR31 Billion Capex for Lyocell Capacity Expansion

Grasim Industries (NSE:GRASIM, BOM:500300) has received board approval for Phase II expansion of its Lyocell capacity in Harihar, Karnataka, involving capital expenditure of 30.9 billion Indian rupees, according to a Monday filing with the Indian bourses.The expansion will be executed in two phases, adding a total capacity of 110,000 tonnes per annum (TPA) through two 55,000 TPA lines. The first phase is expected to be completed by mid-2028, followed by the second phase by mid-2030.The Phase II expansion will complement Phase I of its Lyocell plant in Harihar, which is already under construction and is expected to be commissioned by mid-2027, the filing stated.

BOM:500300NSE:GRASIM
Asia

SEC Wins KRW4.2 Billion Equipment Supply Order from Hanwha Aerospace

South Korean tech and inspection company SEC (KOSDAQ:081180) won an order from Hanwha Aerospace (KRX:012450) to supply the latter with non-destructive testing equipment, according to a Tuesday filing with the Korea Exchange.The contract, worth 4.2 billion won, is valid till Dec. 31, 2027.Shares of Hanwha Aerospace rose nearly 1% in recent trade.

KOSDAQ:081180KRX:012450