28 September, 2016
Davis Polk is advising Aluminum Corporation of China on its HK$2.526 billion (approximately $326 million) proposed privatization of Chinalco Mining Corporation International via a scheme of arrangement.
Chinalco Mining Corporation International is the core platform of Aluminum Corporation of China for the future acquisition, investment, development and operation of non-ferrous and non-aluminum mineral resources and projects outside the People’s Republic of China (PRC), with unaudited consolidated total assets of approximately $5.398 billion as of June 30, 2016. Its shares are listed on the Hong Kong Stock Exchange.
Aluminum Corporation of China is a state-owned enterprise administered by the state-owned Assets Supervision and Administration Commission of the PRC and is principally engaged in the mining, smelting and processing of non-ferrous metals and related trading, engineering and technological services. It currently holds approximately 84.63% shareholding of Chinalco Mining Corporation International.
The Davis Polk corporate team includes partner Paul Chow, registered foreign lawyer Yazhe Liu, associates Kai Sun and Mun Bbill Tang. All members of the Davis Polk team are based in the Hong Kong office.