Oz AWE Delists Post Mitsui Takeover

Australian AWE delisted from ASX at the close of trading May 8 following the acquisition by Mitsui, the company said the same day.

Mitsui announced May 2 that its takeover bid for all of the ordinary shares in AWE has closed. Mitsui has a relevant interest in 96.47% of AWE’s issued share capital. Mitsui April 24 began the compulsory acquisition process for the remaining AWE shares in accordance with Australian law.

Mitsui pipped China Energy Reserve and Chemical Group and Australian Mineral Resources to acquire AWE which has a prized asset in the form of the Waitsia gas project in Western Australia. Mitsui said April 18 it has appointed two executives as directors of AWE.