Mingtai Aluminium Ends Sale of 2.50% Sanmenxia Aluminium Stake to Jiaozuo Wanfang
Mingtai Aluminium has terminated its plan to sell a 2.50% stake in Sanmenxia Aluminium to Jiaozuo Wanfang after Jiaozuo Wanfang withdrew its application for a restructuring via the issuance of shares to acquire assets. As of the announcement date, Mingtai Aluminium still holds the 2.50% stake in Sanmenxia Aluminium. The company said the termination will not have a material impact on its financial position.
Mingtai Aluminium announced that, because Jiaozuo Wanfang withdrew its application for a restructuring through the issuance of shares to acquire assets, the transaction under which Mingtai Aluminium would have sold a 2.50% stake in Sanmenxia Aluminium to Jiaozuo Wanfang has been terminated accordingly.
As of the announcement date, Mingtai Aluminium still holds a 2.50% stake in Sanmenxia Aluminium.
The announcement stated that the termination of the transaction will not have a material impact on Mingtai Aluminium's financial position.
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