Mitsui & Co claims 50 per cent of AWE

Company News

by Rachael Jones

The takeover of oil and gas company AWE (ASX:AWE) by one of Japan’s big five trading houses Mitsui & Co is now unconditional.

Mitsui has claimed over 50 per cent of the company.

They first announced plans at the end of January with an offer of 95 cents per share, representing $602 million in total for 100 per cent of AWE — previously Mitsui had offered 83 cents per share in December 2017.

Mitsui’s stake in AWE now stands at 51.89 per cent and AWE shareholders who accepted the offer will now receive their consideration within seven business days of acceptance being received.

Shares in AWE (ASX:AWE)  are down 0.79 per cent to $0.95
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.