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China Bearing (Singapore) Ltd proposes acquisition of Pt Vasco Nusantara, Pt Millennium Danatama Resources and Pt Millennium Mining and Resources – termination


Thursday, 24 Jul 2014 05:42am EDT 

China Bearing (Singapore) Ltd:Refers to announcement made on Jan. 27 in relation to proposed acquisition.Unless otherwise defined, capitalized terms and references used herein shall bear same meaning ascribed to them in announcement.Further to announcement, the Board wishes to announce that the Company enters into termination agreement with the vendors, covenantors, and targets, pursuant to which the parties mutually agreed to terminate the term sheet with immediate effect upon execution of the termination agreement.Termination was agreed upon by the parties, following discussions and negotiations in relation to proposed acquisition and the definitive documents, and having considered the results of due diligence by the company on the target group. 

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