久久久精华视频,久久久69

Videos
Photos

Sources: China firms eyeing Fortescue

(Agencies)
Updated: 2009-02-18 19:18

Fortescue Metals Group said on Wednesday it has held talks with Anglo American Plc and China's sovereign wealth fund about possible investment opportunities, and sources said top Chinese steel maker Baosteel has also been in talks to buy assets.

Fortescue, an Australian iron ore miner, is looking to secure financing to develop a new mine, Christmas Creek, and a second port, which would more than triple its production capacity to 180 million tons a year.

China's government is backing a drive for mergers and acquisitions by State-backed metals companies, many of whose foreign rivals are struggling with debt and collapsed markets.

In response to a stock exchange query about a report that Anglo American and China Investment Corp (CIC), the $200 billion sovereign wealth fund, were in talks to buy stakes in Fortescue, and a 26 percent rise in its shares, Fortescue confirmed recent meetings and site visits with the companies.

Meanwhile, sources with direct knowledge of the matter told reporters that Chinese steel makers, including industry leader Baosteel, are in talks to buy iron ore assets from Fortescue.

The talks between Baosteel and Fortescue have taken place over the past few months, said the sources, who declined to be identified due to the sensitive nature of the situation.

Some smaller Chinese steel makers, including Hebei Iron and Steel Group and Valin Iron and Steel Group have also shown interest in Fortescue assets, one of the sources said.

A Baosteel spokesman in Shanghai, where the firm is headquartered, declined to comment. Anglo American declined to confirm that it was in talks with Fortescue.

"As far as we're concerned, this is media speculation and we don't comment on such matters," said spokesman James Wyatt-Tilby.

Advisers appointed

Fortescue recently appointed JPMorgan, Grant Samuel and Azure as advisers to review approaches and proposals it had received.

"We have and continue to receive a number of approaches from various parties," Fortescue spokesman Cameron Morse said.

Fortescue shares jumped on Wednesday by more than a quarter before closing up 12 percent at A$2.99, valuing the group at A$8.4 billion ($5.36 billion). Australia's broader share index ended down 1.5 percent.

(For more biz stories, please visit Industries)

Previous page 1 2 Next Page

国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频