REFILE-Sundance shares plunge after Hanlong deal delay
(Corrects spelling of Hanlong in first paragraph)
Dec 5 (Reuters) - Shares in Australian iron ore miner Sundance Resources plunged as much as 14 percent on Wednesday, after it said its takeover by Hanlong Group would be delayed to the end of January, as the Chinese company has not yet obtained the necessary funding.
Hanlong has told Sundance it will not be able to deliver key paperwork by December 13 as initially agreed because China Development Bank, which is providing the majority of funding for the deal, has requested further information.
The deal had been due to close on Jan 8.
Sundance shares were down 11.0 percent to A$0.34 by 2319 GMT. (Reporting by Maggie Lu Yueyang; Editing by Edwina Gibbs)
- Exclusive: Radar data suggests missing Malaysia plane deliberately flown way off course - sources
- Investigators focus on foul play behind missing plane: sources |
- Kremlin website hit by 'powerful' cyber attack
- West prepares sanctions as Russia presses on with Crimea takeover |
- Search for Malaysian plane may extend to Indian Ocean - U.S |