Baosteel and Aurizon take control of Aquila

Australia-based Aquila Resources Limited has announced that Baosteel Resources Australia Pty Ltd (Baosteel) and Australian rail and logistics company Aurizon Operations Limited (Aurizon) have gained control of Aquila with the framework of a takeover implementation agreement, while Tony Poli has reportedly resigned.
 
According to Aquila, the company's Independent Board Committee and Aquila chairman and 30 percent shareholder Tony Poli accepted the offer on Thursday, July 3, enabling the bidders to hold more than 50 percent of Aquila shares.