Tibet Geological and Mineral Resources to Control 34% of Tibet GaoZheng Explosive in State Asset Restructuring

MT Newswires Live

08/10

Tibet Geological and Mineral Resources Group will take a 34% stake in Tibet GaoZheng Explosive (SHE:002827), according to a Monday filing with the Shenzhen bourse.

Following the acquisition, Tibet Geological and Mineral Resources Group will become the controlling shareholder of the explosives maker. The State-owned Assets Supervision and Administration Commission will still be the actual controller.

The acquirer will not pay cash for the transaction.

The transaction will help optimize the layout of Tibet's state-owned economy, the filing said.

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