Wang Sing International to acquire 45% stake in Huawe Nickel
2024-08-13 15:05:50 [Print]
Wang Sing International Resources Limited, a subsidiary of Chengtun Mining Group Co., Ltd., plans to enter into a share purchase agreement with Huayou Holdings (Hong Kong) Limited to acquire a 45% equity interest in Huawe Nickel Company Limited for a consideration of around USD163 million in cash, so as to indirectly hold a 29.25% stake in PT Youshan Nickel Indonesia. Upon completion, Wang Sing International will hold a 100% stake in Huawe Nickel and indirectly own a 65% interest in Youshan Nickel.
Chengtun Mining said through the share acquisition it will have a larger equity share in Youshan Nickel, which is expected to further expand its business scale and help boost self-sufficiency of raw material.
Chengtun Mining said through the share acquisition it will have a larger equity share in Youshan Nickel, which is expected to further expand its business scale and help boost self-sufficiency of raw material.
Nickel Sulfate Ni 22%min; Co 0.05%max Delivered China
Unit:RMB/mt
China refined nickel producers' inventory statistics by province by month
Unit: mt
