Apache Energy has agreed to buy 65% of Burrup Fertilisers from
ANZ Bank for a discounted $560 million, The Australian newspaper
reported Thursday.
The planned sale could face obstacles in the form of legal
action by the wife of Indian tycoon Pankaj Oswal trying to block
the sale of her 35% stake in the ammonia firm, the report said.
Burrup's other 35% shareholder, Norwegian chemicals giant Yara
International SA (YARIY), will also have to decide by February
whether to exercise its pre-emptive right to increase its stake to
100%, according to the newspaper.
ANZ declined to comment, while Apache couldn't be contacted, the
newspaper said.
Full story at
http://www.theaustralian.com.au/business/mining-energy/apache-to-buy-65pc-stake-in-burrup-fertilisers/story-e6frg9df-1226223388067
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