Aluminum Corporation of China Limited (SEHK:2600) agreed to acquire 19% of stake in Yunnan Aluminium Co., Ltd. (SZSE:000807) from Yunnan Metallurgical Group Co., Ltd. for CNY 6.7 billion on July 24, 2022. The transfer price of Yunnan Aluminium shares shall be RMB 10.11 per shareThe financial results of Yunnan Aluminum will be consolidated into the financial statements of Aluminum Corporation and Yunnan Aluminum will become a subsidiary of Aluminum Corporation. Upon the completion, Yunnan Metallurgical has agreed to reduce the number of Directors whom it can nominate in Yunnan Aluminium accordingly in accordance with its latest shareholding ratio, and Aluminum Corporation has agreed to increase the number of Directors whom it can nominate in Yunnan Aluminium accordingly in accordance with its latest shareholding ratio. The transaction has been approved at the second meeting of the eighth session of the Board of Aluminum Corporation and subject to approval of shareholders of Aluminum Corporation. As on September 29, 2022, Aluminum Corporation;s shareholders approved the transaction. VBG Capital Limited has been appointed as the independent financial advisor to advise the Independent Board Committee and the Independent Shareholders of Aluminum Corporation. On September 29, 2022, Yunnan Metallurgical held a general meeting of shareholders to consider and approve proposals related to the acquisition.

Aluminum Corporation of China Limited (SEHK:2600) completed the acquisition of Yunnan Aluminium Co., Ltd. (SZSE:000807) from Yunnan Metallurgical Group Co., Ltd. on November 22, 2022.