Shanxi Smelter Sells Subsidiary Stake

Shanxi Guanlu Co Ltd (SHE: 000831), a nonferrous metals smelter, said Thursday its parent has sold 29.9% of it to China Minmentals Corporation. The deal gives Minmentals a 29.9% stake in Guanlu while the parent group's holdings are cut to 4.61%. The size of the deal was not known. Minmetals currently has a A$2.6 billion takeover bid for cash-strapped OZ Minerals pending Australian government approval.

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