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.
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