CITIC Resources Holdings (HK:1205) has released an update.
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CITIC Resources Holdings is set to execute a significant transaction involving the exchange of its 9.61% stake in AWC for a 3.03% interest in Alcoa, pending regulatory and shareholder approvals. The deal, already approved by the Ministry of Finance of the PRC and Alcoa stockholders, also requires CITIC shareholders’ consent, which has been granted by its major subsidiaries without a general meeting. This major disposal and acquisition move is subject to Hong Kong Listing Rules due to its substantial impact on the company’s share capital.
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