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Chinalco announced that it intends to spend 2.
113 billion yuan to acquire a 60% stake in Chinalco Shanghai, which will be paid by the group in two installments with internal cash reserves
.
The acquisition will be subject to the signing of a formal share transfer agreement between the parties; It shall take effect
after being approved by the general meeting of shareholders and approved by the controlling shareholder Chalco.
It is reported that this acquisition will help the company to use the functions of the Shanghai financial center, enjoy the preferential policies of the Shanghai Free Trade Zone, and can use the above properties as the development base
of Shanghai.
Chalco Shanghai is mainly engaged in domestic trade (except special approval), import and export of goods and technology, real estate development, project engineering management, construction, metal materials and related product sales, freight forwarding, warehousing (except dangerous goods), business consulting (except brokerage), asset management, etc
.
Chalco Shanghai owns two 5A-grade office buildings
in the Shanghai World Expo Park business office area.
