Manufacturing Industry
Chalco and Lanzhou Aluminum Plant sign LOI on equity transfer.(letter of intent)(Assets Supervision and Administration Commission of Gansu Provincial Government, Aluminum Corporation of China Ltd.)(Brief article)
China Chemical Reporter, September, 2006
Lanzhou Aluminum Co., Ltd. (SH: 600296) announced on August 19th that the State-owned Assets Supervision and Administration Commission of Gansu Provincial Government (SASAC of Gansu) and Aluminum Corporation of China Limited (Chalco) have already signed a letter of intent (LOI) on the transfer of the equity of Lanzhou Aluminum Plant. SASAC of Gansu agrees to transfer its state-owned equity in Lanzhou Aluminum Plant before June 30th 2006 to Chalco. It does not include the 49% equity Lanzhou Aluminum Plant holds in Lanzhou Aluminum Hewan Power Generation Co., Ltd.
According to LOI, SASAC of Gansu will transfer the 14. 65% equity in Lanzhou Aluminum Co., Ltd held by Lanzhou Aluminium Plant to Chalco. On March 28th 2005 Chalco already purchased 28% equity in...
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