adminacquisition will start on February. 26 and end on March 1, 2013 after documents are submitted to the Australian Securities and Investments Commission, officials with the privately-held Hanlong Group said Friday.
Hanlong will pay 0,45 Australian dollars per share to buy Sundance shares — a price agreed upon in August 2012.
The offer will save Hanlong US$315 million for the deal, which was originally valued at US$1,76 billion.
Sundance controls the Mbalam Iron Ore Mine in Cameroon and the Republic of Congo.
Hanlong executives have disclosed that the company is in talks with leading state firms to jointly develop the mine. — Xinhua.
Online Reporter