China Minmetals Controls Hunan Nonferrous Metals-Shanghai Metals Market

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China Minmetals Controls Hunan Nonferrous Metals

Industry News 04:50:47PM Aug 03, 2010 Source:SMM

BEIJING, Aug. 3 -- China Minmetals Corp has purchased a 51% stake in Hunan Nonferrous Metals Corp Ltd<2626> for RMB 5.6 billion, according to the Hong Kong-listed firm's statement released on Aug. 1.

State-owned China Minmetals currently have a total of 1.95 million shares or a 53.08% stake in Hunan Nonferrous Metals. It completed the acquisition through a subsidiary China Minmetals Non-ferrous Metals Co Ltd.

Hunan Nonferrous Metals said that it has received a general offer from China Minmetals to sell out its issued shares for HK$1.73 apiece.

Reportedly, China Minmetals reaped RMB 173 billion in operating revenue and RMB 3.15 billion in gross profits last year.


 

China Minmetals Controls Hunan Nonferrous Metals

Industry News 04:50:47PM Aug 03, 2010 Source:SMM

BEIJING, Aug. 3 -- China Minmetals Corp has purchased a 51% stake in Hunan Nonferrous Metals Corp Ltd<2626> for RMB 5.6 billion, according to the Hong Kong-listed firm's statement released on Aug. 1.

State-owned China Minmetals currently have a total of 1.95 million shares or a 53.08% stake in Hunan Nonferrous Metals. It completed the acquisition through a subsidiary China Minmetals Non-ferrous Metals Co Ltd.

Hunan Nonferrous Metals said that it has received a general offer from China Minmetals to sell out its issued shares for HK$1.73 apiece.

Reportedly, China Minmetals reaped RMB 173 billion in operating revenue and RMB 3.15 billion in gross profits last year.