New O Group plans to terminate the $12 billion privatization acquisition of the energy business sector.

According to sources, the largest shareholder of New Ao Energy Holdings Limited is considering withdrawing the nearly $12 billion privatization offer. The sources stated that as the negotiations are still in a non-public stage, the shareholder - New Ao Natural Gas Co., Ltd. may no longer extend the deadline for reaching the preconditions of the privatization transaction. The final outcome is not yet determined, but an announcement could possibly be made as early as this Friday. Representatives from both New Ao Natural Gas and New Ao Energy have declined to comment on the matter.