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CERCG Withdraws Indicative Proposal to Acquire 100% of AWE

Source: www.gulfoilandgas.com 12/5/2017, Location: Not categorized

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AWE has announced that it has received notice from China Energy Reserve and Chemical Group Australia (CERCG) that it had formally withdrawn its conditional, non-binding indicative proposal to acquire 100% of the shares in AWE for $0.71 per share.

The AWE Board remains fully committed to acting in the best interests of, and maximising value for, AWE’s shareholders.

AWE appointed UBS, Australia Branch, and Highbury Partnership as financial advisors and Allens as legal advisor.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

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