Tongling Nonferrous Metals Group announced that the company plans to use its own funds of 0.377 billion yuan to acquire a 21% stake in Tongling Nonferrous Metals Group Financial Co., Ltd. held by its controlling shareholder, Tongling Nonferrous Metals Group Holding Co., Ltd., in order to reduce related-party transactions and optimize fund allocation. After the transaction is completed, the company will hold 51% of the equity of the nonferrous financial company and include it in the consolidated financial statements. Shareholders' meeting and approval from the China Banking and Insurance Regulatory Commission are still required for this transaction.
铜陵有色：拟3.77亿元购有色财务公司21%股权
Tongling Nonferrous Metals Group plans to acquire 21% equity of the nonferrous financial company with 0.377 billion yuan.
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