Ansteel’s Gindalbie buyout wins Chinese nod

State-owned steel maker Angang Group Hong Kong (Ansteel) has received the necessary record‐filing notices from the National Development and Reform Commission and the Ministry of Commerce of China for its proposed acquisition of Australian miner Gindalbie.

The State Administration of Foreign Exchange of China has also given its approval for the transaction, in terms of which Ansteel is offering 2.6c a share for Gindalbie.