CHALCO to merge and reorganize two subsidiaries
2018-06-22 17:10:05 [Print]
CHALCO announced on 21 June that it plans to merge and reorganize two subsidiaries - Zunyi Alumina and Zunyi Aluminum - by raising funds for Zunyi Aluminum based on all assets and debts of about RMB2,311 million evaluated from Zunyi Alumina
CHALCO also proposed to establish CHALCO Overseas Development Co., Ltd . with the China Aluminum Group by investing RMB500 million in cash respectively and each would hold 50% shares of the new company.
. After the merge and reorganization, the registered capital of Zunyi Aluminum would increase from about RMB900 million to RMB3 . 2 billion and CHALCO's shareholdings in Zunyi Aluminum would increase from about 52 . 5% to about 67 . 5%.CHALCO also proposed to establish CHALCO Overseas Development Co., Ltd . with the China Aluminum Group by investing RMB500 million in cash respectively and each would hold 50% shares of the new company.