According to the Age, Thai company Banpu’s Ltd approval of its $2.5 billion takeover bid for Centennial Coal Company Ltd
(ASX:CEY) is expected to be delayed because of the upcoming Australian Federal Election.
The paper reports that Banpu has requested an extension to its application with the Foreign Investment Review Board.
Banpu is listed on the Thailand Stock Exchange already owns 19.9% of Centennial.
Earlier this month Centennial announced that Banpu had received approval from the Bank of Thailand to remit foreign currency to pay for the bid.
Centennial Coal Company reported a $71.2 million profit for the year ending 30 June 2009.
