Bow Energy Limited announced that the Australian Treasurer has issued a statement of no objection under the Foreign Acquisitions and Takeovers Act 1975 (Cth) to the proposed acquisition by Arrow Energy Holdings Pty Ltd of all of the issued capital of Bow by way of scheme of arrangement.
In addition, Arrow has announced that the relevant approvals in the People’s Republic of China relating to the Scheme (PRC Regulatory Approvals) have also been obtained.
The statement of no objection from the Australian Treasurer and confirmation that Arrow has obtained PRC Regulatory Approval satisfy important conditions to the Scheme.
The Scheme remains conditional upon, among other things, the approval of Bow Shareholders at the Scheme Meeting to be held on 21 December 2011 and the approval of the Federal Court of Australia planned for the following day.
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LNG World News Staff, December 16, 2011