Private equity firms are circling Al Jannah, the famous Australian chicken chain. According to Street Talk, the founding family is expected to retain a significant stake in the business and remain involved in its operations. Brett Holden is also expected to stay on as CEO. Al Janah is known for its Lebanese-style charcoal chicken and has a devoted following in Sydney and Melbourne.
In other news, Corporate Travel Management has further delayed its financial results amid a deepening accounting scandal. The business travel agent disclosed additional issues that are likely to result in a negative earnings recovery by 2023. Corporate travel management provides travel solutions to businesses, offering services such as booking flights, accommodation, and managing travel expenses.
Meanwhile, a luxury mansion in Brighton, previously owned by a wealthy Leicester and sold by investment banker Goldman Sachs, has been snapped up by a luxury developer for an undisclosed sum above its price guide. The sale of this property highlights the continued demand for premium real estate in Melbourne’s biased suburbs. Finally, new environmental laws have passed parliament despite opposition, with Prime Minister Anthony Albanians widely endorsed.
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