SHANGHAI, Dec. 14 (SMM) –Chalco plans to sell 50% stake in Shanxi Huaxing Aluminum Co. for at least 2.35 billion yuan ($364 million), the company said in a statement filed to the Shanghai Stock Exchange on December 9.
Chalco added that the move aims to draw strategic investors to jointly build its coal-electricity-aluminum integrated industry base in Shanxi province.
At present, Chalco holds a 60% stake in Shanxi Huaxing Aluminum and the rest 40% by its fully owned subsidiary Chalco Hong Kong.
Shanxi Huaxing Aluminum, located in Xing County, Shanxi, mainly engages in alumina refining.
The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.
For news cooperation, please contact us by email: firstname.lastname@example.org or email@example.com.