Chalco Ends Bid to Buy Stake in Winsway for $308 Million - Bloomberg: "The agreement was terminated because it won’t be able to get approval from governments and regulators by a Sept. 30 deadline, the aluminum producer known as Chalco said in a statement to the Hong Kong stock exchange yesterday. Mongolia passed a law this year restricting foreign state-owned companies from controlling key assets.
Yesterday’s decision is the second time this month Beijing- based Chalco has abandoned a bid for a Mongolian coal miner because it wasn’t able to get regulatory approvals. The company said on Sept. 3 it terminated a C$925 million ($941 million) offer for a stake in SouthGobi Resources Ltd. (SGQ)"
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Yesterday’s decision is the second time this month Beijing- based Chalco has abandoned a bid for a Mongolian coal miner because it wasn’t able to get regulatory approvals. The company said on Sept. 3 it terminated a C$925 million ($941 million) offer for a stake in SouthGobi Resources Ltd. (SGQ)"
'via Blog this'
