| Abstract: |
ASX-listed diversified miner Aquila Resources on Monday reported that the proposed investment by Chinese steel manufacturer Boasteel, of A$285,6-million by way of a subscription of shares in Aquila, has been approved by the Australian Foreign Investment Review Board (FIRB).
If the acquisition was completed, Boasteel would own a 15% stake in Aquila, and would become the company’s second-largest shareholder. However, although Boasteel was only acquiring a 15% stake, FIRB approval gave the company leave to acquire 19,99%. |