Yunnan Aluminium to acquire 27.21% stake in Heqing Yixin
2019-08-07 17:39:22 [Print]
Yunnan Aluminum Co., Ltd. announced on August 6 that it plans to acquire 27.21% equity interest in Heqing Yixin Aluminum Industry Co., Ltd. (Heqing Yixin), including 23.65% stake held by Heqing Industrial Investment Co., Ltd. and 3.56% stake held by Yunnan Wenshan Aluminum Co., Ltd. Heqing Yixin's other shareholders waived their pre-emptive rights of this acquisition. According to Yunnan Aluminum, the acquisition is to further improve the green and low carbon hydropower-aluminum industrial chain and expand the scale of the industry.
After acquiring 23.65% stake in Heqing Yixin, Yunnan Aluminum shall take over from Heqing Industrial Investment for the unpaid 200 million yuan (28.38 million US dollars) investment along with corresponding rights and interests to Heqing Yixin. Upon the completion of the equity transfer of 3.56%, Yunnan Aluminum will have a total of 98.16% stake in Heqing Yixin.
After acquiring 23.65% stake in Heqing Yixin, Yunnan Aluminum shall take over from Heqing Industrial Investment for the unpaid 200 million yuan (28.38 million US dollars) investment along with corresponding rights and interests to Heqing Yixin. Upon the completion of the equity transfer of 3.56%, Yunnan Aluminum will have a total of 98.16% stake in Heqing Yixin.
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Unit:RMB/mt
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