Free Newsletters - Space - Defense - Environment - Energy - Solar - Nuclear
..
. Energy News .




TRADE WARS
China firm's Australia deal in doubt over murder case
by Staff Writers
Shanghai (AFP) March 26, 2013


A Chinese firm's billion-dollar takeover of an Australian iron ore miner was in danger of collapse Tuesday after reports the buyer's boss was detained by police for harbouring his brother, a murder suspect.

Australia's Sundance Resources said in a statement on its website that Hanlong Group, a privately-owned company based in Sichuan province in southwest China, had missed a deadline to provide information on how it will finance the deal.

Sundance gave no reason why its Chinese suitor missed the time limit.

But Chinese media said last week that Hanlong's chairman Liu Han was being held by police on suspicion of harbouring his brother, who has been arrested for murder.

The website of the Economic Daily newspaper also quoted sources as saying Liu was suspected of laundering money through casinos in Macau, the former Portuguese colony now administered by China where gambling is legal.

Hanlong could not be reached for comment on Tuesday.

A listed unit of Hanlong, Jinlu, said last Thursday that it had lost contact with Liu but did not confirm the chairman had been detained by police.

Sundance Resources said in August last year it had accepted a revised takeover offer from Hanlong and valued the deal at about Aus$1.4 billion (US$1.45 billion) at the time.

The potential acquisition would give Hanlong control of Sundance's Mbalam iron ore mine, which straddles the border between Cameroon and the Republic of Congo in west Africa.

The Chinese government has encouraged companies to go abroad to build themselves into international players and secure supplies of energy and raw materials to keep the economy humming.

The two companies had until April 3 for "consultation" over the takeover agreement, after which either side could terminate it, Sundance said in the statement.

Hanlong is a diversified company with interests ranging from tourism to minerals and assets of more than 20 billion yuan ($3.2 billion), according to its website.

.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





TRADE WARS
BRICS: a dynamic group dominated by China
Durban, South Africa (AFP) March 26, 2013
As the leaders of BRICS five emerging nations meet in Durban for a summit on Tuesday, economic data shows that the grouping of Brazil, China, India, Russia and South Africa now account for 25 percent of global GDP and 40 percent of the world's population. Here are some facts and figures about BRICS: China: Boasting the world's second largest economy - trailing only the United States - ... read more


TRADE WARS
Chinese leader Xi, Putin agree key energy deals

India is fourth largest energy consumer

'Earth Hour' evolves into springboard for wider action

The household carbon emission per capita in Northwestern China is only 2.05 tons CO2 per year

TRADE WARS
Greenhouse gas emissions of cars could drop 80 percent by 2050

Signalhorn Expands in Oman for Oil and Gas Customer

NRL Nike Laser Focuses on Nuclear Fusion

China's Sinopec says net profit down 12.8% for 2012

TRADE WARS
France publishes 1GW offshore wind tenders

Davey lauds, warns Scotland on renewables

Uruguay deal boosts S. America wind power

Huge wind farm turbine snaps in Japan

TRADE WARS
Solterra Offers 100 Percent Solar Power Apartments

Bosch ends photovoltaics activities

Nanowire solar cells raise efficiency limit

Arnall Golden Gregory Assists With Two Cutting-Edge Solar Energy Projects

TRADE WARS
AREVA and EDF bring together Saudi industry to support energy projects

Temelin, a Czech village overshadowed by disputed nuclear plant

British bad weather kills one, closes nuclear site

Cooling systems restored at Fukushima reactors: TEPCO

TRADE WARS
Peach genome offers insights into breeding strategies for biofuels crops

Microalgae could be a profitable source of biodiesel

Researchers building stronger, greener concrete with biofuel byproducts

Biobatteries catch breath

TRADE WARS
China's Next Women Astronauts

Shenzhou 10 - Next Stop: Jiuquan

China's fourth space launch center to be in use in two years

China to launch new manned spacecraft

TRADE WARS
Indian stars call for dry Holi festival amid drought

Earth's Interior Cycles a Contributor to Long-Term Sea-Level and Climate Change

Dinosaur-era climate change study suggests reasons for turtle disappearance

Guiding responsible research in geoengineering




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement