Shanxi Coking Group Company Ltd (Shanxi Coking Group), Shanxi Province-based Chinese coke producer Shanxi Coking Co., the listed subsidiary of Shanxi Coking Group Company Ltd (Shanxi Coking Group), announced on November 25 that it has decided to sell its 1.3455 percent stake in Liaoning Province-based Benxi-Beiying Iron and Steel Co. to Shanxi Coking Group for a total of RMB 123 million ($20.1 million). After the transaction, Shanxi Coking Co. will no longer hold any shares in Benxi-Beiying Steel Iron and Steel Co.
As of December 31, 2012, Benxi-Beiying Iron and Steel Co.'s net assets amounted to a value of RMB 9.223 billion ($1.5 billion), while in 2012 the company achieved an operating revenue of RMB 21.454 billion ($3.51 billion).
Source:
http://www.steelorbis.com/steel-news/latest-news/shanxi-coking-sells-stake-in-benxi_beiying-iron-and-steel-797414.htm
