Xingye Silver & Tin to acquire 25% stake in Atlas Tin SAS
2026-07-01 14:59:09 [Print]
Xingye Silver & Tin Group Co., Ltd. announced plans to designate an overseas subsidiary to be established (currently unincorporated) to acquire a 25% equity interest in Atlas Tin SAS for a total consideration of USD23,113,600. Upon completion of the transaction, the Company will indirectly hold 100% of the target company through its subsidiaries.
Atlantic Tin Private Limited, a subsidiary of Xingye Gold (Hong Kong) Mining Co., Ltd., which is a wholly-owned subsidiary of Xingye Silver & Tin, currently holds 3.18 million shares (75% equity) in Atlas Tin SAS and serves as its controlling shareholder. To fully secure the project's resource entitlements, maximize the value of the tin mining asset, and enhance core competitiveness and operational sustainability, Xingye Silver & Tin proposes to acquire the remaining 1.06 million shares (25% equity) held by Toyota Tsusho Corporation and Nippon Steel Mining Co., Ltd. through a newly established overseas subsidiary.
As the new overseas subsidiary has not yet been incorporated, the transaction will proceed with Xingye Silver & Tin and its wholly-owned subsidiary Xingye Gold (Hong Kong) first entering into a Share Purchase Agreement with the counterparties. The agreement stipulates that the acquiring party will designate an entity to complete the equity acquisition. The Share Purchase Agreement was formally signed on June 30 by the Company and its wholly-owned subsidiary Xingye Gold (Hong Kong) with the counterparties.
Atlantic Tin Private Limited, a subsidiary of Xingye Gold (Hong Kong) Mining Co., Ltd., which is a wholly-owned subsidiary of Xingye Silver & Tin, currently holds 3.18 million shares (75% equity) in Atlas Tin SAS and serves as its controlling shareholder. To fully secure the project's resource entitlements, maximize the value of the tin mining asset, and enhance core competitiveness and operational sustainability, Xingye Silver & Tin proposes to acquire the remaining 1.06 million shares (25% equity) held by Toyota Tsusho Corporation and Nippon Steel Mining Co., Ltd. through a newly established overseas subsidiary.
As the new overseas subsidiary has not yet been incorporated, the transaction will proceed with Xingye Silver & Tin and its wholly-owned subsidiary Xingye Gold (Hong Kong) first entering into a Share Purchase Agreement with the counterparties. The agreement stipulates that the acquiring party will designate an entity to complete the equity acquisition. The Share Purchase Agreement was formally signed on June 30 by the Company and its wholly-owned subsidiary Xingye Gold (Hong Kong) with the counterparties.
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