Site icon China Economic Review

China Minmetals' Noranda acquisition faces setback

Plans by China National Metals and Minerals Group to acquire Canadian metals producer Noranda may be jeopardized following Noranda's newly acquired 41% stake in a subsidiary that would necessitate China Minmetals to increase its investment outlay, which is believed to be beyond its means, state media reported. While negotiations are in progress over China's largest-ever foreign acquisition attempt, China Minmetals said other cooperation agreements may be struck.

Exit mobile version