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Home / Metal News / Chongqing Wanli Proposes to Buy a 35% Stake in Deneng Renewable Resources

Chongqing Wanli Proposes to Buy a 35% Stake in Deneng Renewable Resources

Apr 15, 2014 14:19

Source:SMM

Chongqing Wanli New Energy Co. signed a letter of intent to buy a 35% stake in Chongqing Deneng Renewable Resources Co. to expand its lead-acid battery business.

SHANGHAI, Apr. 15 (SMM) – Chongqing Wanli New Energy Co. signed a letter of intent to buy a 35% stake in Chongqing Deneng Renewable Resources Co. to expand its lead-acid battery business.

It remained uncertain whether or not the transaction would be concluded successfully, and value of the transaction would be subject to fair valuation, Chongqing Wanli told Shanghai Stock Exchange today.

Chongqing Deneng is engaged in scrap battery recycling and processing, as well as secondary lead, refined lead, and lead alloy production, it said.

Chongqing Wanli New Energy Co.

lead-acid battery

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