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4 of the biggest news pieces from the ASX200 this week

Tristan Harrison
ASX200 News

The ASX 200 (Index: ^AXJO) (ASX: XJO) had a few news stories despite Christmas. Here are four stories you may have missed that affected businesses in the ASX 200 index:

Corporate Travel Management Ltd (ASX: CTD) 

Corporate Travel announced an acquisition this week, Corporate Travel Planners (CTP) based in Texas, USA.

CTP is apparently a “significant” provider of travel services to both the university and corporate sectors. Aside from providing another growth avenue for Corporate Travel, one of the attractions is that the education and university sector supposedly has a lower exposure to economic downturns.

The acquisition price is initially US$18 million with a further maximum consideration of US$18 million based on profit hurdles.

Caltex Australia Limited (ASX: CTX) 

It seems the Caltex brand will soon enough disappear from our roads because Chevron has given Caltex a termination notice about the current licence agreement after 18 months of discussions.

Caltex Australia will transition to the company-owned Ampol brand after a brand strategy review.

The change will save between $18 million to $20 million in annual trade mark licence fees, although there will be costs involved in changing to Ampol.

Woodside Petroleum Limited (ASX: WPL) 

Woodside announced this week that it has entered into a long-term sale and purchase agreement with Uniper for the supply of LNG for 13 years commencing in 2021.

The quantity of LNG will initially be 0.5 million tonnes per annum, increasing to 1 million tonnes per annum from 2025, which is conditional on a final investment decision on the Scarborough development.

Independence Group NL (ASX: IGO) 

The resources company has announced that it intends to allow the off market takeover bid for Panoramic Resources Ltd (ASX: PAN) to lapse.

A number of defeating conditions have been breached and the company does not intend to waive these breaches.

The Panoramic Resources operational update and need for additional funding have significantly eroded the attraction for Independence Group.

The post 4 of the biggest news pieces from the ASX200 this week appeared first on Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019