FIRB green lights Aquila stake
October 30, 2009
Aquila Resources Limited (AQA) said Baosteel’s proposed $285 million investment in the company had been given the green light by the Foreign Investment Review Board (FIRB). Baosteel’s stake would be for 15%, however they retain the option to increase that stake to 19.99%.
The placement to Baosteel, a Chinese steelmaker, was still subject to approval by the shareholders of Aquila and Chinese regulatory approval.
Aquila shares were halted at $7.18.
The placement to Baosteel, a Chinese steelmaker, was still subject to approval by the shareholders of Aquila and Chinese regulatory approval.
Aquila shares were halted at $7.18.
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