14 DECEMBER 2015Shanghai Metal Market
Chalco to sell 50% stake in Shanxi Huaxing Aluminum for $364 million
Edited by : AL CIRCLE
1 min read
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-aluminium 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.
Chalco added that the move aims to draw strategic investors to jointly build its coal-electricity-aluminium 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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