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    Chalco Plans To Buy 9.5% Stake In Subsidiary

  • China Aluminium Network
  • Post Time: 2010/12/31
  • Click Amount: 508

    December 30 -- Aluminum Corporation of China (601600, 2600.HK) plans to buy a 9.5 percent stake in its subsidiary, China Aluminum International Trading, from Chalco Property Development, reports 163.com, citing a corporation filing.


    Chalco Property put the target assets up for sale on the China Beijing Equity Exchange for 115 million yuan.


    Chalco and Chalco Property held 90.5 percent and 9.5 percent stakes in China Aluminum International Trading.


    China Aluminum International Trading specializes in overseas futures trading of aluminum, aluminum alloy and copper. It recorded net profits of 357 million yuan in the first nine months of 2010.



     
    Source: www.capitalvue.com
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