Shanxi Coal International Energy Group Co.,Ltd completed the acquisition of 51% stake in Shanxi Coal Import & Export Group Hequ Old County Open-pit Coal Industry Co., Ltd. from Shanxi Coal Import & Export Group Co., Ltd. and Shanxi Zhonghui Dadi Mining Co., Ltd.
July 17, 2018
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Shanxi Coal International Energy Group Co.,Ltd (SHSE:600546) intends to acquire a 51% stake in Shanxi Coal Import & Export Group Hequ Old County Open-pit Coal Industry Co., Ltd. from Shanxi Coal Import & Export Group Co., Ltd. and Shanxi Zhonghui Dadi Mining Co., Ltd. for CNY 2.4 billion on June 1, 2018. Shanxi Coal Import & Export Group Co., Ltd. will sell 31% stake and Shanxi Zhonghui Dadi Mining Co., Ltd. will sell 20% stake in Shanxi Coal Import & Export Group Hequ Old County Open-pit Coal Industry Co., Ltd and will receive CNY 1.4 billion and CNY 930 million respectively as consideration. The deal value is payable in cash. As of June 13, 2018, the deal value of the deal value was slightly modified. Currently, Shanxi Coal Import & Export Group Co., Ltd. holds an 80% stake in Shanxi Coal Import & Export Group Hequ Old County Open-pit Coal Industry Co., Ltd. and Shanxi Zhonghui Dadi Mining Co., Ltd. holds a 20% stake in Shanxi Coal Import & Export Group Hequ Old County Open-pit Coal Industry Co., Ltd.
Shanxi Coal Import & Export Group Hequ Old County Open-pit Coal Industry Co., Ltd. reported total assets of CNY 2.8 billion and net assets of CNY 390.2 million as of December 31, 2017 and revenues of CNY 734.9 million and net profit of CNY 109 million for the year ended December 31, 2017. The deal requires Shanxi Coal International Energy Group Co.,Ltd 's shareholders approval. The transaction is approved by the Board of Shanxi Coal International Energy Group Co.,Ltd on June 1, 2018 and also on June 13, 2018. The transaction is approved by the shareholders of Shanxi Coal International Energy Group Co.,Ltd on June 29, 2018.
Shanxi Coal International Energy Group Co.,Ltd (SHSE:600546) completed the acquisition of 51% stake in Shanxi Coal Import & Export Group Hequ Old County Open-pit Coal Industry Co., Ltd. from Shanxi Coal Import & Export Group Co., Ltd. and Shanxi Zhonghui Dadi Mining Co., Ltd. on July 18, 2018. Post completion, Shanxi Coal International Energy Group Co.,Ltd. owns a 51% stake and Shanxi Coal Import and Export Group Co., Ltd owns 49% stake respectively in Shanxi Coal Import & Export Group Hequ Old County Open-pit Coal Industry Co., Ltd.
Shanxi Coal International Energy Group Co.,LTD mainly operates through three business segments, including Coal Production segment, Sale and Transportation of Coal segment and Non-coal Trading segment. Coal Production segment is involved in the production of raw coal and cleaned coal for the production of coke coal and power coal. Sale and Transportation of Coal segment is involved in the sale and transportation of power coal, coking coal, anthracite coal and semi-anthracite coal, which are mainly used in electric power and metallurgy industries. Non-coal Trading segment is involved in the trading of other mineral products and steel. The Company operates its business in domestic market and to overseas market.
Shanxi Coal International Energy Group Co.,Ltd completed the acquisition of 51% stake in Shanxi Coal Import & Export Group Hequ Old County Open-pit Coal Industry Co., Ltd. from Shanxi Coal Import & Export Group Co., Ltd. and Shanxi Zhonghui Dadi Mining Co., Ltd.
SHANXI COAL INTERNATIONAL ENERGY GROUP CO.,LTD 
