BRIEF-Galan Lithium Rejects Offer From Zhejiang Huayou Cobalt & Renault Group For Argentina Assets

Reuters
03 Apr
BRIEF-Galan Lithium Rejects Offer From Zhejiang Huayou Cobalt & Renault Group For Argentina Assets

April 3 (Reuters) - Zhejiang Huayou Cobalt Co Ltd 603799.SS:

  • RECEIVED UNSOLICITED, CONDITIONAL, NON-BINDING PROPOSAL FROM ZHEJIANG HUAYOU COBALT CO., LTD & THE RENAULT GROUP

  • DEAL FOR 100% OF CO'S INTERESTS IN HOMBRE MUERTO WEST AND CANDELAS FOR US$150 MILLION

  • BELIEVES INDICATIVE PROPOSAL IS OPPORTUNISTIC AND UNDERVALUES CO'S KEY ASSETS

  • BOARD OF GALAN REJECTED OFFER

Further company coverage: 603799.SS

((Reuters.Briefs@thomsonreuters.com;;))

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