CLR carabella resources limited
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News: Carabella in search for buyers

  1. FNN News
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    06/12/13
    08:15
    Post #: 12665385
    .


    Carabella Resources Limited (ASX:CLR) has hired UBS AG to find buyers after China Kingho Energy Group offered to buy the Queensland coal explorer for $66.4 million.


     


    China Kingho’s wholly-owned unit, Wealth Mining Ltd, is offering 42 cents a share to buy the Brisbane-based company. 


     


    The target says it has received a number of expressions of interest from other parties.


     


    Wealth Mining already has an 11 per cent stake in Carabella.


     


    Carabella Resources booked a net loss of $8.1 million in fiscal 2013.

    CLR Price at posting: 44.0¢ Sentiment: None Disclosure: Held
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