Shanxi Coal Non-ferrous Metal Group Co., Ltd. completed the acquisition of Shanxi Coal International Energy Group Huanan Co., Ltd. from Shanxi Coal International Energy Group Co.,Ltd.
October 15, 2017
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Shanxi Coal Non-ferrous Metal Group Co., Ltd. signed the share transfer agreement to acquire Shanxi Coal International Energy Group Huanan Co., Ltd. from Shanxi Coal International Energy Group Co.,Ltd (SHSE:600546) for CNY 1 on May 23, 2017. In a related transaction, Shanxi Coal Agricultural Development Co., Ltd. signed the share transfer agreement to acquire Shanxi Coal International Energy Group Xinzhou Co., Ltd from Shanxi Coal International Energy Group Co.,Ltd (SHSE:600546) for CNY 7.2 million on May 23, 2017. For the year ended December 31, 2016, Shanxi Coal International Energy Group Huanan Co., Ltd had total assets of CNY 733.83 million, net liabilities of CNY 450.13 million, revenue of CNY 2.88 million and net loss of CNY 255.26 million. The transaction is subject to approval from the shareholders of Shanxi Coal International Energy Group Co.,Ltd and was approved by the Board of Shanxi Coal International Energy Group Co.,Ltd on May 23, 2017. On June 14, 2017, the assessment report made for Shanxi Coal International Energy Group Huanan Co., Ltd. is approved by the Board of Directors of Shanxi Coal International Energy Group Co.,Ltd and record has been filed with the State-owned Assets Supervision and Administration Commission of Shanxi Provincial Government. As of June 30, 2017, shareholders’ of Shanxi Coal International Energy Group Co.,Ltd approved the transaction.
Shanxi Coal Non-ferrous Metal Group Co., Ltd. completed the acquisition of Shanxi Coal International Energy Group Huanan Co., Ltd. from Shanxi Coal International Energy Group Co.,Ltd (SHSE:600546) on October 16, 2017.
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 Non-ferrous Metal Group Co., Ltd. completed the acquisition of Shanxi Coal International Energy Group Huanan Co., Ltd. from Shanxi Coal International Energy Group Co.,Ltd.