Aluminum Corp. of China Ltd, or Chalco (ACH.NYSE; 02600.HK; 601600.SH), announced on late Wednesday that it planned to sell a 100-percent stake in Chalco Logistics for 823 million yuan.
According to the appraisal result, the appraised value of net assets of Chalco Logistics amounted to about 615 million yuan, thus the corresponding net assets to the 100-percent stake in Chalco Logistics held by Chalco amounted to 615 million yuan.
Subsequent to the valuation base data (September 30, 2015), Chalco intended to contribute a capital of about 208 million yuan to the Chalco Logistics by way of injecting some logistics assets of Chalco Guangxi Branch into the Chalco Logistics.
Therefore, the price for the transfer of the equity interest of the Chalco Logistics under public tender is calculated by the corresponding appraised value of the 100-percent stake plus the amount of the increased capital, totaling about 823 million yuan.
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