deal

Australian airline carrier, Qantas (ASX:QAN) have sold its 50 percent shareholding of StarTrack Express to Australia Post.

• Qantas will receive $408 million from selling its 50 percent stake in road freight business, Star Track Express to Australia Post.
• Previously, Qantas and Australia Post owned 50 percent each of both Star Track Express and Australian Air Express.

Fortescue Metals (ASX:FMG) has sealed a $1.4 billion deal with Leighton Contractors (ASX:LEI) to deliver a five year full service mine management with a possible two year extension.

• The five year full service is for its Firetail iron ore deposit at Solomon in Western Australia's Pilbara region.

After facing debt turmoil Fortescue Metals (ASX:FMG)is awarded a new debt financing deal from Credit Suisse and JPMorgan.

• $US4.5 billion (AUD$4.3 billion) debt facility refinancing deal is underwritten by Credit Suisse and JPMorgan.
• SMH reports that Deutsche Bank's analysts estimated Fortescue now had available funds of $US6.7 billion after the deal.

Australia's third largest iron ore producer, Fortescue Metals (ASX:FMG) have had their lender, Bank of America, extend the syndication deadline of the $1.5 billion loan until the end of the month.

• The loan facility was underwritten by Bank of America Merrill Lynch
• The loan facility matures in December 2013. Loan is split equally into a term part and a revolving credit portion.

Australian brands retailer, OrotonGroup (ASX:ORL) have emerged from their trading halt to announce that they have lost their license to sell Ralph Lauren products in Australia. The American clothing and accessories designer has ended the 23 year long relationship with Oroton. The license will not renew or be extended beyond its expiry next year June 30.

Uranium miner, Paladin Energy (ASX:PDN) has struck a 6 year supply deal between 2019 and 2024 with an undisclosed energy utility. In the deal they have agreed to sell 13.73 million pounds of uranium from one of its mines in Africa or one of its future projects based on spot prices at a time with agreed floor and ceiling prices. Current uranium prices are at lows of less than US$50 per pound.

Australian-listed Indonesia gold and copper miner, Intrepid Mines (ASX:IAU), has provided some information about its ongoing dispute with their minor Indonesian Joint Venture partner, Indo Multi Niaga. During July, 660 workers and 7 expatriates were ordered off the Indonesian Tujuh Bukit project (which is mining gold, silver and copper).

Crown Casino (ASX:CWN) has announced plans of building a $568 million 6 star hotel at its Perth casino. A deal struck with the Western Australian (WA) government includes an expansion of gambling facilities. The hotel is called Crown Towers and will be built on the Burswood Peninsula. It will have 500 rooms (increasing capacity to 1200 rooms in the precinct) along with restaurants, bars, resort and convention facilities.

One of Australia's largest telecommunications company Telstra (TLS) has finally submitted its revised sturctural separation undertaking (SSU) to the Australian Competition & Consumer Commission that was due last week. ACCC's approval of the telco's SSU is the last step in the completion of Telstra's $11 billion deal with NBN.

Telecommunications Company Telstra (TLS) faces a crucial time to get the approval of the Australian Competition and Consumer Commission (ACCC) to finalise its proposed $11 billion deal with the National Broadband Network. The telco seems to be running out of time after failing to submit the final revised structural separation undertaking (SSU) last night.