Shandong Chenming Paper Holdings Ltd. (01812) said it has conditionally agreed to sell 60% of the total equity interest in Haiming Mining and a sale loan to Jiangsu Fuda at a total consideration of RMB1.95 billion. Upon completion, the company will no longer hold any equity interests in Haiming Mining.
Haiming Mining is a limited liability company established in the PRC and its business scope includes the underground mining of magnesite, processing and sales of magnesite and talc, import and export of goods and technologies, and electricity sales.
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