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.