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Home / Metal News / Hunan Chenzhou Mining Proposes to Buy Huangjindong Mining with 1.49 Bln yuan

Hunan Chenzhou Mining Proposes to Buy Huangjindong Mining with 1.49 Bln yuan

iconJun 12, 2014 11:23
Hunan Chenzhou Mining Group Co. propose to acquire 100% stake in Hunan Huangjindong Mining Industry Co. from Hunan Gold Group with an estimated 1.49 billion yuan ($ 243 million).

SHANGHAI, Jun. 12 (SMM) – Hunan Chenzhou Mining Group Co. proposed to acquire 100% stake in Hunan Huangjindong Mining Industry Co. from Hunan Gold Group with an estimated 1.49 billion yuan ($ 243 million), it told Shenzhen Stock Exchange today.

Chenzhou Mining plans to buy 85% of stake by private share placement, and acquire the remaining 15% in cash, the company said, with 134,876,300 shares to be issued at 9.42 yuan per share.

Price of the transaction will be finalized after review of Hunan’s State-Owned Asset Supervision and Administration Commission.

 

Hunan Chenzhou Mining Group Co.
Hunan Gold Group
Hunan Huangjindong Mining Industry Co.
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