[ET Net News Agency, 1 February 2018] Aluminum Corporation of China (CHALCO) (02600)
said it agreed to acquire about 30.8% equity interest in Chalco Shandong, 36.9% equity
interest in Zhongzhou Aluminum, 25.7% equity interest in Baotou Aluminum and 81.1% equity
interest in Chalco Mining from eight transferors at a total of about Rmb12,704 million.
The consideration will be paid by CHALCO through issue of a total of about 2,117 million
new A shares at an issue price of Rmb6 per share.
Upon completion, the aggregate shareholding of the transferors in CHALCO will increase
from about 1.29% to 13.57%.
Upon completion of the restructuring, CHALCO will hold 100% equity interests in the four
target companies.
Chalco Shandong is principally engaged in production and sales of alumina, aluminum
hydroxide and refined alumina. Zhongzhou Aluminum is principally engaged in production and
sales of metallurgical grade alumina and a variety of alumina products. Baotou Aluminum is
principally engaged in power generation and supply, and production and sales of aluminum,
aluminum alloy and relevant processed products. Chalco Mining is principally engaged in
mining of bauxite. (HL)