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    market news

    Chinese Buy Rio Tinto’s Share in Extract Resources

    Investing News Network
    Mar. 20, 2012 01:33PM PST
    Energy Investing

    Reuters reported Rio Tinto (NYSE:RIO,ASX:RIO) has accepted an offer from China Guangdong Nuclear Power for its stake in Extract Resources (TSX:EXT,ASX:EXT).

    Reuters reported Rio Tinto (NYSE:RIO,ASX:RIO) has accepted an offer from China Guangdong Nuclear Power for its stake in Extract Resources (TSX:EXT,ASX:EXT).

    As quoted in the market news:

    Monday’s move had been expected after Rio accepted CGNPC’s bid for its separately held stake in Extract’s 42 percent shareholder, Kalahari Minerals, in January.

    Australian-listed Extract’s board backed the $2.4 billion Chinese offer earlier this month.

    Click here to read the full Reuters report.

    tsx:extmarket newskalahari mineralsasx:riochinanyse:rioasx:extnuclear power
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