Chalco Terminates Buying in Winsway Coking Coal

  • Wednesday, October 10, 2012
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  • Keywords:Chalco Coking Coal
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[Ferro-Alloys.com] Aluminum Corporation of China Limited October 7 announced that the company and Winsway Coking Coal Holdings agreed to terminate an acquisition of 29.9% interest in the latter on the day as it failed to gain approval from Chinese regulators before September 30.
 
Chalco previously planned to take over 1.128 billion shares or 29.9% equities Winsway Resources held in Winsway Coking Coal Holdings with HKD 2.392 billion so as to integrate coal and aluminum businesses.
 
Winsway Coking Coal had HKD 7.273 billion audited net assets and made HKD 1.052 billion net profits in 2011.
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