Aurizon Holdings Limited (ASX:AZJ) and Baosteel Resources Australia have received no objections from the Foreign Investment Review Board for their proposed takeover of Aquila Resources Limited (ASX:AQA).
The rail freight operator has teamed up with Baosteel in an offer to buy 100 per cent of Aquila’s shares at $3.40 each.
Aurizon CEO Lance Hockridge says the offer is the first step in a potential pathway to co-investment in resources and Greenfield infrastructure and a great opportunity to co-develop world class rail and port infrastructure.
Aurizon Holdings posted a net profit of $107.3 million in the first half of the 2014 financial year.
