"[No Consensus Reached, Fuda Alloy Terminates Acquisition of Sanmenxia

Published: Dec 4, 2023 14:05

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"[No Consensus Reached, Fuda Alloy Terminates Acquisition of Sanmenxia Aluminum Industry]

On November 30, 2023, Fuda Alloy Materials Co., Ltd. announced that it has decided to terminate the acquisition of Sanmenxia Aluminum Industry. Due to various factors such as market environment and the actual situation of the target company, the company and the counterparty did not reach an agreement on the valuation of the target assets and other matters. Considering the transaction intentions of all parties, it is believed that continuing the major asset restructuring cannot meet the expectations of all parties, and there are significant risks and uncertainties if the transaction continues."

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