Trump-Linked US Firm Circles Port of Darwin Amid Calls to End 99-Year Chinese Lease
Before the federal election on May 3, both the Albanese government and the federal opposition pledged to take back the port from the Beijing-linked company, Landbridge.
'We've been informally engaging with potential buyers for some time,' Prime Minister Anthony Albanese
On May 28, Terry O'Connor, Landbridge's non-executive director for Australia, confirmed that a representative from Cerberus had met with Darwin Port's management, but had not made an offer for the asset.
'In that meeting [Cerberus] expressed interest about potential investment in the port, given that the company had a fairly high investment portfolio around the world,' he told the ABC.
'There's certainly been no prices negotiated [for the port], no prices even discussed or raised.
'We would see Cerberus's interest as the same level of interest as we've received from multiple other companies who have talked to the port [management] over the past couple of months.'
In 2015, the Northern Territory's then-Country Liberal Party government leased the port to Landbridge on a 99 year deal valued at $506 million.
The agreement raised national security concerns, including from former U.S. President Barack Obama, prompting the Turnbull Liberal government to strengthen asset sale regulations through the Foreign Investment Review Board.
Who is Cerberus?
Known for its expertise in distressed asset acquisitions, Cerberus Capital Management manages approximately $65 billion in assets, spanning sectors such as military, automotive, real estate, and aviation.
In March, the U.S. Senate
In this capacity, Feinberg will serve as the Department of Defense's chief operating officer, overseeing day-to-day management and executing the Secretary of Defense's strategic priorities.
Xiao Qian, the Chinese Communist Party (CCP) Ambassador to Australia, issued a strong rebuke of the Australian government's plan to reclaim the port lease.
'It is ethically questionable to lease the port when it was unprofitable and then seek to reclaim it once it becomes profitable,' he said in a statement published on his website on May 25.
This statement came days after his trip to Darwin, where he visited the port, met with staff at Landbridge, and took questions from both Chinese and Australian media.
The Epoch Times has reached out to Landbridge, the Prime Minister's Office, and the Northern Territory government for comment.
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We are also encouraged by its MI400 rack architecture (to be launched in 2026) but it remains too early to quantify. Hence, we now expect that upside to FY26 estimated AI revenue will lead to higher re-rating to AMD that is not fully priced in by the market despite the 14% share price rally post its AI day event (12 June). PepsiCo (PEP) JP Morgan analyst Andrea Teixeira is cautious on PepsiCo (PEP) going into its July 17 earnings report. Says Teixeira"We believe expectations are for another soft quarter for PEP as consumption trends in the U.S. deteriorated in the quarter for both PFNA and PBNA segments, while International should remain relatively solid with some puts and takes. We don't envision a substantial change to underlying guidance at this point following the cut to EPS with 1Q25 and a low enough bar for OSG, although USD softening could provide some relief to reported results. To date, PEP's initiatives to turn around the snacking business have disappointed with tracked channel trends remaining under pressure, and with more time elapsing from shelf resets and price portioning and pack size adjustments (to lower absolute price points), if the company doesn't begin to show signs of improving trends near term (i.e., getting less bad against easing comparisons) there could be a need for more meaningful investment." The maker of Nutella and Ferrero Rocher, Ferrero, is reportedly close to finalizing a deal to acquire WK Kellogg Co. (KLG) for a roughly $3 billion dollar price tag, per the WSJ. The stock soared in after-hours trading following the report, up over 50%. As of Wednesday's market close, the company had a market cap of roughly $1.5 billion. The cereal maker, behind brands like Froot Loops and Frosted Flakes, has been under pressure lately as consumers crave less breakfast food. Over the course of four weeks, ending June 29, cereal category sales fell 1.8% "in line with the trend from recent months," Stifel analyst Matthew Smith wrote in a note to clients. For WK Kellogg in particular, dollar sales were down 5.7% in that same time frame. It could get even worse when compared to the highs of the pandemic, per Smith. He said that "cereal sales had been running down -1.5% or so, we believe the volumes are likely to continue to move towards the historical decline rate." "The category is holding in and it's shifting ... we will shift with it," CEO Gary Pilnick told investors on its recent earnings call, "as consumers are looking for value, they're looking for health and wellness... No matter what the combination is, the cereal category is a tremendous destination for those consumers." WK Kellogg did not respond to a request for comment. 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