Jul 25, 2022 07:09 PM

BUSINESS

Chalco’s Takeover of Peer Could Make It World’s Largest Listed Aluminum-Maker

By Luo Guoping and Ding Yi

A poster of Aluminum Corporation of China at an exhibition in Shanghai in July 2019. Photo: VCG

A poster of Aluminum Corporation of China at an exhibition in Shanghai in July 2019. Photo: VCG

Aluminum Corp. of China Ltd., known as Chalco, will take control of Yunnan Aluminum Co. Ltd., which analysts said could make it the world’s largest listed aluminum producer.

Shanghai and Hong Kong-listed Chalco will pay 6.66 billion yuan ($986.5 million) for around 19% of Yunnan Aluminum, the company said in a Sunday exchange filing (link in Chinese). The per share price of 10.11 yuan represents a premium of 5.5% on the closing price on Friday.

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