No objection
April 7, 2011, Thursday
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Print Edition
Print Edition
MINMETALS Resources Ltd, a unit of China's biggest metals trader, received written notice from Australia's Foreign Investment Review Board that the Australian government has no objection to the company's planned acquisition of Equinox Minerals Ltd, according to a statement by Minmetals to the Hong Kong stock exchange yesterday.
Minmetals is also seeking lenders to help arrange a US$5 billion loan to finance its acquisition of Equinox, according to a person familiar with the matter.
The company is in talks with the Bank of China, China Development Bank Corp and the Industrial and Commercial Bank of China, the person said, asking not to be identified because the details haven't been finalized.
"It will be a consortium of Chinese banks," said Martin McFarlane, head of investor relations at Minmetals. "We haven't yet put out what the exact make-up of that consortium is or what the total amount is or the proportion amongst them," he said.
(Bloomberg News)
Minmetals is also seeking lenders to help arrange a US$5 billion loan to finance its acquisition of Equinox, according to a person familiar with the matter.
The company is in talks with the Bank of China, China Development Bank Corp and the Industrial and Commercial Bank of China, the person said, asking not to be identified because the details haven't been finalized.
"It will be a consortium of Chinese banks," said Martin McFarlane, head of investor relations at Minmetals. "We haven't yet put out what the exact make-up of that consortium is or what the total amount is or the proportion amongst them," he said.
(Bloomberg News)
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