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2007-8-1 11:49:00 a.m. HKT, XFNA
HK-listed China National Resources in 1.98 bln hkd Xinjiang assets purchase
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deal
HONG KONG (XFN-ASIA) - Hong Kong-listed China National Resources
Development Holdings Ltd said that it has agreed to acquire the entire issued
share capital of each of Fuken Investments Ltd, Golden Brand Investments Ltd
and Giant Strong Investments Ltd for a total of up to 1.98 bln hkd.
Fuken Investments, Golden Brand and Giant Strong own 80 pct, 14 pct and 6
pct of the issued share capital of Gold Way Investment International Ltd,
respectively.
Gold Way Investment, meanwhile, currently owns 55 pct of Xinjiang Hui
Xiang Yong Jin Mining Ltd, which holds the mining rights to a copper mine
located in the Xinjiang Uygur Autonomous Region and the exploration rights to
another copper mine area, also in the same region.
(1 usd = 7.8 hkd)
jun.concepcion@xfn.com
jc/kmq
xfnjcc/xfnkm
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