AUSTRALIA

Anzon up for sale

ANZON Australia will open up its books and invite a shortlist of potential bidders to lodge a for...

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The Sydney-based company reiterated an earlier announcement that it has received a “number of approaches” from parties that could lead to an offer or proposal being put to its shareholders.

Anzon, which has a market capitalisation of about $A611 million, told the market that it has been looking into this since revealing news of the approaches in late August.

“Anzon with the assistance of its advisers has conducted a process to identify parties who may be interested in putting an offer or proposal to shareholders,” the statement said.

“Following this process, Anzon has identified a shortlist of interested parties who will be provided with access to certain due diligence material and who will be invited to provide further information on their possible offer or proposal.”

Anzon has seen its market value jump more than tenfold since listing in December 2004. It is the operator and 50% stakeholder of the Basker-Manta-Gummy oil and gas project, in Bass Strait.

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