Mineral Resources Trumps Chinese Bid for Australian Gas Producer AWE

Source: Reuters 12/11/2017, Location: Not categorized

Australia’s Mineral Resources has offered A$484 million ($364 million) for domestic gas producer AWE Ltd (AWE.AX), topping a sweetened bid from state-owned China Energy Reserve and Chemicals Group (CERCG).

The two suitors are targeting AWE’s stake in a gas project in Western Australia, Waitsia, which the company has called the country’s biggest conventional gas find onshore in four decades.

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Mineral Resources Trumps Chinese Bid for Australian Gas Producer AWE

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