Aussies Give Go-ahead For Baosteel Deal
By Richard Fu |
October 31, 2009, Saturday
|
Print Edition
Print Edition
AUSTRALIA has approved Baosteel Group Corp's bid for a 15-percent stake in its iron ore explorer Aquila Resources Ltd.
The Foreign Investment Review Board gave the green light to Baosteel's proposed A$285.6-million (US$261.5 million) investment with no conditions attached, Aquila said yesterday.
The government also allowed Baosteel to raise the stake up to 19.99 percent, Aquila said.
Aquila yesterday said it anticipates completion of the transaction in the latter half of next month, subject to approval from Chinese authorities.
As part of the deal, Baosteel has agreed to help Aquila obtain low-cost funding from Chinese banks for the miner's projects.
Australia last week approved Yanzhou Coal Mining Co's proposed A$3.5 billion full takeover of Felix Resources Ltd, but with strict conditions.
The Foreign Investment Review Board gave the green light to Baosteel's proposed A$285.6-million (US$261.5 million) investment with no conditions attached, Aquila said yesterday.
The government also allowed Baosteel to raise the stake up to 19.99 percent, Aquila said.
Aquila yesterday said it anticipates completion of the transaction in the latter half of next month, subject to approval from Chinese authorities.
As part of the deal, Baosteel has agreed to help Aquila obtain low-cost funding from Chinese banks for the miner's projects.
Australia last week approved Yanzhou Coal Mining Co's proposed A$3.5 billion full takeover of Felix Resources Ltd, but with strict conditions.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
