Aluminum Corporation of China (Chalco) said it would acquire further stakes in Yunlv Yongxin, Yunlv Runxin, and Yunlv Hongxin from sister firm Yunnan Metallurgical in multiple cash transactions, according to a Hong Kong bourse filing Tuesday.
The firm will pay 1.45 billion yuan ($204.6 million) to acquire a 28.7% equity interest in Yunlv Yongxin; 787.7 million yuan to acquire a 27.3% equity interest in Yunlv Runxin; and 28.2 million yuan to acquire a 30% interest in Yunlv Hongxin.
Following the sale, the firm will hold a 96.1%, 97.5%, and 100% equity interests in Yunlv Yongxin, Yunlv Runxin, and Yunlv Hongxin, respectively.
Chalco will make the purchases via its Yunnan Aluminum unit.
Chalco, Yunnan Aluminum, and Yunnan Metallurgical are all subsidiaries of state-owned Chinalco.
