On December 5, Yanzhou Coal positively responded to the rumor of acquisitions reported by Australian media. The China’s fourth-largest energy group stated that the company is considering potential overseas acquisitions.
Yanzhou Coal stated in its statement to the Hong Kong Stock Exchange on December 5: “As of now, the company is exploring the feasibility of overseas expansion, but has not yet reached an agreement with any overseas coal company on any issues.â€
In recent days, international energy prices represented by oil prices have fallen sharply. As a result, the overseas M&A activities of Chinese energy companies have also increased significantly since the second half of 2008. The GlobalMiné„„ing organization recently stated that due to the impact of the global economic crisis, the demand for energy in countries around the world has dropped significantly, which has directly led to the continuous decline of international energy prices represented by oil. In this case, the Chinese energy industry companies are likely to increase their investment in overseas markets, and the acquisition of energy companies in developed countries is a very important part of this work.
In fact, before the news of the acquisition of Yanzhou Coal was confirmed, the Chinese energy industry company had already launched several attempts of overseas mergers and acquisitions since 2008. In November, Shenhua Energy, China's largest coal company, said that the company had invested A$299.9 million to obtain Australian coal mining licenses. In addition, Shougang’s Shougang International Enterprise Co., Ltd. and Asia-Pacific Energy Corporation announced recently that they have subscribed for the A$96.50 million stake in Australia’s Mount Gibson Iron Ore Group. Through this subscription, the two Shougang subsidiaries’ holdings to Mount Gibson. The proportion will rise to 40%.
Yanzhou Coal stated in its statement to the Hong Kong Stock Exchange on December 5: “As of now, the company is exploring the feasibility of overseas expansion, but has not yet reached an agreement with any overseas coal company on any issues.â€
In recent days, international energy prices represented by oil prices have fallen sharply. As a result, the overseas M&A activities of Chinese energy companies have also increased significantly since the second half of 2008. The GlobalMiné„„ing organization recently stated that due to the impact of the global economic crisis, the demand for energy in countries around the world has dropped significantly, which has directly led to the continuous decline of international energy prices represented by oil. In this case, the Chinese energy industry companies are likely to increase their investment in overseas markets, and the acquisition of energy companies in developed countries is a very important part of this work.
In fact, before the news of the acquisition of Yanzhou Coal was confirmed, the Chinese energy industry company had already launched several attempts of overseas mergers and acquisitions since 2008. In November, Shenhua Energy, China's largest coal company, said that the company had invested A$299.9 million to obtain Australian coal mining licenses. In addition, Shougang’s Shougang International Enterprise Co., Ltd. and Asia-Pacific Energy Corporation announced recently that they have subscribed for the A$96.50 million stake in Australia’s Mount Gibson Iron Ore Group. Through this subscription, the two Shougang subsidiaries’ holdings to Mount Gibson. The proportion will rise to 40%.
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