Business Activities News
- Chinalco takes over Baotou Aluminum
Date: 8-Jan-2007 Sources: (Shenzhen Daily)
ALUMINUM Corp. of China, or Chinalco, the country's largest aluminum maker, has taken an 80 percent stake in Baotou Aluminum (Group) Co. in a government-arranged asset transfer.
A statement Friday by Baotou's listed subsidiary said the parent had recently completed a transfer deal that had been signed in 2003. The deal provided for Chinalco, the parent of Hong Kong-listed Aluminum Corp. of China (Chalco), to become majority owner of Baotou Aluminum (Group) Co., which has a 55 percent stake in Shanghai-listed Baotou Aluminum Co.
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