Chinese state firm takes 13% stake in Australia's Centrex Metals
MELBOURNE, Nov 26, 2009 (Asia In Focus via COMTEX) --
Company: Centrex Metals Ltd
(CTXXF)
A Chinese state-owned
company has formally taken a 13.04 per cent stake in South
Australian iron ore developer CENTREX METALS LTD (ASX:CXM).
Australian regulators gave WUHAN IRON & STEEL (GROUP) CO
(WISCO) (SSE:600005), China's third largest steel group, the
green light earlier this month to take the stake in Centrex.
* WISCO paid A$9.7 million (US$9.04 million) for a 15 per
cent stake, after about 40.4 million Centrex shares were placed
with the Chinese company at the heavily discounted price of 25
cents per share.
Copyright (C) 2010 Asia in Focus. All rights reserved
News Provided by COMTEX
Company: Centrex Metals Ltd
(CTXXF)
Related terms: australia, china, metals, steel
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