China Minmetals Acquires 29.9% Holding in Shanxi Guanlu Co.

China Minmetals Corp. acquired 29.9 percent of Shanxi Guanlu Co., a maker of aluminum products, becoming the largest shareholder after a transfer overseen by the State-Assets Supervision and Administration Commission.

China Minmetals received the stake from Shanxi Guanlu Group, which now has a 4.61 percent holding, according to a filing to the Shenzhen Stock Exchange from Shanxi-based Shanxi Guanlu Co. The statement didn't say whether China Minmetals paid for the holding or give the value of the stake it acquired.

Shanxi Guanlu Co., which traded at 3.94 yuan at 9:31 a.m. in China, has a market capitalization of 2.55 billion yuan ($373 million), according to Bloomberg data.

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