Ansteel receives FIRB approval for acquisition of Gindalbie Metals

Ansteel receives FIRB approval for acquisition of Gindalbie Metals

Gindalbie Metals (ASX: GBG) has announced that Angang Group Hong Kong (Holdings) Limited (“Ansteel”) has received written confirmation from the Australian Foreign Investment Review Board (“FIRB”) stating that, among other things, the Commonwealth of Australia has no objection to the proposed acquisition by Ansteel of all of the ordinary shares in Gindalbie that it does not already own, pursuant to the transactions announced on 11 March 2019.


Gindalbie Metals (ASX: GBG) has announced that Angang Group Hong Kong (Holdings) Limited (“Ansteel”) has received written confirmation from the Australian Foreign Investment Review Board (“FIRB”) stating that, among other things, the Commonwealth of Australia has no objection to the proposed acquisition by Ansteel of all of the ordinary shares in Gindalbie that it does not already own, pursuant to the transactions announced on 11 March 2019.

As a result, Gindalbie has confirmed that the "FIRB approval" condition under clause 3.1(f) of the Scheme Implementation Agreement between Gindalbie and Ansteel has been satisfied.

The Transactions remain subject to a number of conditions, including the approval of Gindalbie shareholders, the receipt of certain Chinese regulatory approvals and the approval of the Court, and an Independent Expert’s Report concluding that the Acquisition Scheme is in the best interests of Gindalbie shareholders.

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