FIRB delay for Banpu takeover of Centennial

THAI energy company Banpu has dispatched its bidder’s statement to all Centennial Coal shareholders for its $A2 billion takeover offer. But the deal remains subject to Foreign Investment Review Board approval.
FIRB delay for Banpu takeover of Centennial FIRB delay for Banpu takeover of Centennial FIRB delay for Banpu takeover of Centennial FIRB delay for Banpu takeover of Centennial FIRB delay for Banpu takeover of Centennial

The crushing plant at Banpu's Indominco-Bontang operation in East Kalimantan, Indonesia.

Blair Price

Banpu is confident of getting approval but withdrew its FIRB application earlier this week because of the pending federal election.

The FIRB application will be resubmitted in the coming weeks while the company will hold an extraordinary general meeting of shareholders in Bangkok on August 10.

Banpu’s takeover offer at $6.20 per share on July 5 was made at a 40% premium to the closing price of Centennial shares on the previous trading day.

A year ago, Centennial shares were struggling to surpass $3, but closed down 4c to $5.98 on Friday.

Most read Archive

topics

loader

Most read Archive