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Chinese firm makes A$463m bid for Australian gas producer AWE

Published Fri, Dec 8, 2017 · 09:50 PM
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Bengaluru

STATE-OWNED China Energy Reserve and Chemicals Group launched a A$463 million (S$471 million) bid for Australia's AWE Ltd on Friday, going direct to shareholders after the gas and oil producer rebuffed a slightly lower friendly approach.

AWE said it would evaluate the offer of A$0.73 a share, pitched at an about 11 per cent premium to AWE's close on Thursday and 34 per cent above AWE's close before the first bid …

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