Chinese company withdraws proposal to acquire AWE

Chinese company withdraws proposal to acquire AWE
Image courtesy of AWE

Australian energy company, AWE Limited said the indicative proposal to acquire 100 percent of the company’s shares by China Energy Reserve and Chemical Group Australia (CERCG) has been withdrawn.

CERCG initially proposed to acquire 100 percent of AWE shares for a price of $0.71 cash per share.

The indicative proposal included the acquisition of any shares that are issued by AWE under the recently announced Share Purchase Plan (SPP).

However, on Tuesday, AWE received a notice from CERCG, that it has formally withdrawn its proposal.

UBS AG, Australia Branch, and Highbury Partnership were selected as financial advisors and Allens as legal advisor upon receiving the indicative proposal.

Share this article

Follow LNG World News

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

The 6th CWC China LNG & Gas International Exhibition & Summit

Following on from LNG 2019 and five successful editions in Beijing, the established China LNG & Gas International Exhibition & Summit…

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Singapore / Jan 2019

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >