Aluminum/Chinalco acquires Henan Jiaozhuo Wanfang

摘要

Aluminum Corporation of China(Chinalco, the parent company of Chalco) is in talks with government of Jiaozhuo city of Henan province to acquire Henan Jiaozhuo Wanfang Aluminum Co., Ltd, sources close to the situation said. Recently, the government of Jiaozhuo city gave Chinalco 25 percent of shares of Jiaozhuo Wanfang without payment, as the initial move for the acquisition. Chinaico will take more shares and become the No.1 and controlling shareholder of Jiaozhuo Wanfang. On November 5, mayor of the city met Chinalco vice general manager Mr. Sun Zhaoxue and the two sides had reached agreement on the acquisition, sources close to the situation said.