What we learned: Friday 28 November
With that, we will wrap the blog for the evening and the week. Thanks so much for your company today.
Here’s a look at what made headlines:
Monash University will pay back thousands of casual staff who were underpaid over almost a decade after reaching a settlement with the National Tertiary Education Union.
The woman who died yesterday after being mauled by a bull shark is believed to be a tourist visiting from Switzerland.
Iran has denounced Australia’s decision to designate the Revolutionary Guards a terror-sponsoring group, as relations between Canberra and Tehran took another downward turn.
A police sergeant who was told not to pursue a teenager riding a trail bike has been told he caused the death of the young man when he placed his unmarked car in his path.
Joel Cauchi’s illicit drug use was ‘quite likely’ to have played a role in his stabbing murders of six people and his autonomy had to be respected when he decided to cease taking antipsychotic medication, a court has heard.
A man has died and two others are in custody after a daylight shooting on a suburban street in Sydney.
Have a great evening.
Updated
Charcoal chicken chain El Jannah reportedly sold to US private equity firm
El Jannah has reportedly been sold to a US-headquartered private equity firm in a deal worth about $1bn.
The Australian Financial Review reported today that General Atlantic won the tightly contested auction for the Lebanese charcoal chicken chain, beating several other major investment firms including Goldman Sachs Asset Management.
A spokesman for General Atlantic said the company did not have any “additional guidance at this stage”.
El Jannah created a strong foothold in Sydney’s south-west, before expanding. It now has 50 stores spread across NSW, Victoria and the ACT.
Private equity operators tend to view fast food chains favourably because they can be expanded quickly, and tend to grow even during economic downturns.
The owner would then typically sell the business to a new owner, or list it on the stock exchange, to cash in on their investment.
The AFR reported that the New York-headquartered firm had bought the business “for a sale price of almost $1bn”.
Updated
