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BRIEF-AnaeCo updates on potential corporate transaction

Published 02/09/2015, 04:27 pm
Updated 02/09/2015, 04:37 pm
© Reuters.  BRIEF-AnaeCo updates on potential corporate transaction
ANQ
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Sept 2 (Reuters) - AnaeCo Ltd ANQ.AX :

* Says due diligence has commenced in relation to a potential corporate transaction

* Says potential transaction involves a Chinese based company becoming a major shareholder in AnaeCo

* Says non-binding term sheet has been executed by monadelphous as seller and the Chinese based company as purchaser

* Transaction will be subject to AnaeCo shareholder approval in relation to the conversion of the loan to equity

* The potential transaction is subject to the satisfactory outcome of legal due diligence to be conducted by the Chinese purchaser

* Source text for Eikon ID:nASX4SQyJB

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