DJ Another Sign Sino Gas May Attract More Suitors -- Market Talk
04 Jun 2018 11:36:15
0136 GMT - Macquarie says Sino Gas may have been hasty in agreeing to a A$530 million ($402 million) buyout with private-equity firm Lone Star as the firm's JV partner in China recently received a CNY4.2 billion ($654 million) offer for the entity holding the 51% JV stake. That implies a valuation of A$830 million, or A$$0.39/share, for Sino Gas, says Macquarie. The buyout offer is at A$0.25, and shares are up 1% today at A$0.2425. Some have said that other potential bidder may emerge for Sino Gas.
SEH Price at posting:
24.5¢ Sentiment: Hold Disclosure: Held
