Home / Metal News / Nickel / China Minmetals Controls Hunan Nonferrous Metals
China Minmetals Controls Hunan Nonferrous Metals
Aug 3, 2010 16:50CST

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
Hunan Nonferrous Metals
M&A merger and acquisition

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news