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.
