On the evening of July 25th, Huayou Cobalt announced that the company plans to acquire 50.15% of the stake of Zhongjing Holdings Limited held by Perlux Limited and corresponding shareholder loans for $200 million through its wholly-owned subsidiary Huayou International Mining (Hong Kong) Co., Ltd, to indirectly acquire 50.1% equity in PT Andalan Metal Industry, a subsidiary of Zhongjing Holdings.
It is reported that AMI has two RKEF ferronickel production lines (with an annual output of 150,000 tons of ferronickel, equivalent to 24,000 metric tons nickel content). After the completion of this acquisition, Huayou International Mining will hold 50.15% of the stake of Zhongjing Holdings, and Perlux Limited will hold 49.85% of the equity of Zhongjing Holdings.
Edited by Cassie Li, lixiangying@mysteel.com
