Daily Brief Australia: Sg Fleet, De Grey Mining, Airtasker, Empire Energy and more

• Sg Fleet (SGF AU) has entered a scheme implementation deed with Pacific Equity Partners (PEP) at A$3.50 per share, a 31.1% premium to the undisturbed price. 
• The key conditions are shareholder and regulatory approvals (FIRB, OIO and UK FCA). Super Group (SPG SJ), the largest shareholder with a 53.58% stake, will support the offer. 
• The offer is attractive compared to peer multiples and represents an all-time high. At the last close and for a March 2025-end payment, the gross/annualised spread is 2.3%/7.6%.

• De Grey acquiring Northern Star for $5 billion
• Northern Star issuing new shares to De Grey shareholders
• Transformational deal with potential for future spin-offs and M&A opportunities

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• RaaS Research Group conducted an interview with Airtasker CEO Tim Fung and CFO Mahendra Tharmarajah following the recent media deals announcement.

• RaaS has published an update report on online marketplace Airtasker (ASX:ART) following its recent announcement of three additional media deals in the UK and US.
• Additional deals in the US have been announced with Sinclair Media ($9.2m) and Mercurius Media ($9.2m), together with an extension of the Chanel 4 deal in the UK ($7.8m).
• This brings the total of recent media deals to $51.6m which is likely to supercharge international growth in the medium term.

• RaaS has published an update report on NT-focused gas explorer/producer Empire Energy Group (ASX:EEG) following the recent announcement that it had executed binding commitment letters for a $65m finance package, in three separate facilities.
• This is the critical piece of the capital funding requirement to support the Carpentaria Pilot Project to first gas as we see it.
• Importantly we suggest the securing of the package can be interpreted as a third-party vote of confidence in the commercial potential of the Beetaloo gas play.