CHINA SHENHUA SEEKS MERGERS AND AQUISITIONS FOR EXPANSION

Ulaanbaatar, /MONTSAME/ China Shenhua Energy Co., the Chinese biggest coal-mining company, said it is looking to expand production through mergers and acquisitions and has been bidding to develop the Tavan Tolgoi deposit in Mongolia according to the China Post.
The Hong Kong-listed company, which reported last week a record annual profit for the second year, will pursue any prospective deals in a cautious manner, president Ling Wen said at a media briefing in Hong Kong Tuesday. They must demonstrate “strong returns,” Ling said.
Chinese companies spent last year a record US$32 billion on resource acquisitions in Asia, Africa and Australia to sustain the world's fastest-growing major economy.
S.Batbayar
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