Chalco to sell 50% stake in Shanxi Huaxing Aluminum for $364 million

Chalco plans to sell 50% stake in Shanxi Huaxing Aluminum Co. for at least 2.35 billion yuan ($364 million), the company said in a statement filed to the Shanghai Stock Exchange on December 9.

Chalco added that the move aims to draw strategic investors to jointly build its coal-electricity-aluminium integrated industry base in Shanxi province.

At present, Chalco holds a 60% stake in Shanxi Huaxing Aluminum and the rest 40% by its fully owned subsidiary Chalco Hong Kong.

Shanxi Huaxing Aluminum, located in Xing County, Shanxi, mainly engages in alumina refining.

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