Minmetals Development to sell 100% stake in Minmetals South for RMB147 million
2019-08-13 17:28:51 [Print]
Minmetals Development Co., Ltd. announced on August 9 that it plans to sell 100% equity interest in its subsidiary Minmetals South to China Minmetals Nonferrlous Metal Co., Ltd., a wholly-owned subsidiary of China Minmetals Corporation, for a total consideration of RMB147 million (USD20.81 million). Upon completion of the equity transfer, Minmetals Development would have an investment income of RMB56.24 million (USD7.96 million). Minmetals South has been basically out of trading business since last year, with income only from renting and interest.
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