China's CGNPC reassesses bid plan for Kalahari Wed Mar 23, 2011...

China's CGNPC reassesses bid plan for Kalahari

Wed Mar 23, 2011 9:21am GMT

BEIJING, March 23 (Reuters) - China Guangdong Nuclear Power and its takeover target Kalahari Minerals are reassessing the Chinese state-owned firm's proposed 756 million pound ($1.2 billion) offer for the uranium miner in light of Japan's nuclear crisis, a CGNPC official said on Wednesday. "The two parties are in touch to do an assessment (of the impact of Japan's nuclear crisis on both companies' prospects,)" a CGNPC Uranium Resource Co official told Reuters.

"The revaluation of the deal will depend on the outcome of those assessments," he said, declining to be named as he was not authorised to speak to the media.

CGNPC Uranium Resource Co announced the proposal just days before Japan's Fukushima nuclear reactor was crippled by an earthquake and tsunami, sparking fears of a radiation disaster which knocked uranium stocks worldwide.

($1 = 0.618 British Pounds) (Reporting by Wan Xu; Editing by Michael Perry)

http://af.reuters.com/article/metalsNews/idAFL3E7EN1L520110323