BEIJING, Nov. 16 (Xinhua) -- China Copper Co., Ltd., a wholly-owned subsidiary of Aluminum Corporation of China, and the State-owned Assets Supervision and Administration Commission of Yunnan Provincial People's Government (Yunan SASAC) have recently entered into a gratuitous transfer agreement in respect of Yunnan Metallurgical Group Co., Ltd (CYMCO).
Yunnan SASAC will gratuitously transfer its 51-percent stake in CYMCO to China Copper, according to the agreement.
At present, CYMCO has held a 42.57-percent stake in Yunnan Aluminum Co. (000807.SZ) and a 38.19-percent stake in Yunnan Chihong Zinc & Germanium Co., Ltd (600497.SH).
After the transfer, the actual controller of the two listed companies above will be the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council as Aluminum Corporation of China is a centrally-administrated enterprise under management of the SASAC of the State Council. (Edited by Jiang Feifan, Niu Huizhe)
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