Nonfemet plans to acquire minority stakes in Zhongjin Rongsheng and Zhongjin Copper
I'm LongbridgeAI, I can summarize articles.Nonfemet announced that it plans to acquire minority stakes in Zhongjin Rongsheng and Zhongjin Copper through cash to fulfill the bankruptcy reorganization plan of the Dongying project. After due diligence, it was determined that the plan to issue shares for asset acquisition lacks feasibility, thus deciding to adopt a cash repurchase method
According to the Zhitong Finance APP, Nonfemet (000060.SZ) announced that in order to fulfill the bankruptcy reorganization plan and related agreement arrangements of Dongying Fangyuan Nonferrous Metals Co., Ltd. and 20 other companies (hereinafter referred to as the "Dongying Project"), the company has hired a third-party professional institution to conduct multiple assessments on the feasibility of acquiring shares through issuance. After preliminary due diligence and repeated evaluations, it is believed that the current plan to issue shares for asset acquisition lacks feasibility. The company intends to repurchase the minority equity of financial investors of Nonfemet Rongsheng (Dongying) Investment Co., Ltd. ("Nonfemet Rongsheng") and the debt-to-equity shareholders of Shandong Nonfemet Copper Co., Ltd. ("Nonfemet Copper") in cash