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Article: CHINA BLUECHEMICAL BUYS COAL MINING FIRM FOR CNY637MN

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AsiaInfo Services
Article date:
July 31, 2009
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AsiaInfo Services
07-31-2009
China BlueChemical Buys Coal Mining Firm for CNY637mn

BEIJING, Jul 31, 2009 (SinoCast Daily Business Beat via COMTEX) -- China BlueChemical Ltd. (SEHK: 3983) announced that it would spend CNY 637 million buying a 49% stake in Shanxi Hualu Yangpoquan Coal Mining Ltd. from Shanxi Hualu Thermoelectricity Ltd.

Moreover, the Hong Kong-listed company plans to invest CNY 40.59 million more in Shanxi Hualu Coal Chemical Ltd. under the wing of Hualu Thermoelectricity, becoming its controlling shareholder with a stake of 51%.

Both Hualu Yangpoquan Coal Mining and Hualu Coal Chemical are located in Hequ County, Shanxi Province, the pillar coal producer in China. The former ...

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