Slaughter and May, Hong Kong, is advising Chinalco Mining Corporation International ("CMC") in relation to its proposed privatisation by Aluminum Corporation of China Overseas Holdings Limited ("Offeror") to be implemented by way of a scheme of arrangement (under Section 86 of the Companies Law of the Cayman Islands) (the "Scheme") and the proposed withdrawal of listing of its shares on the Hong Kong Stock Exchange.

The Scheme was announced on 23 September 2016. The total value of CMC shares based on the cancellation price of HK$1.39 is HK$16,426,717,575 (approximately US$2.1bn) and the amount of cash required to implement the Scheme would be approximately HK$2,526,000,000 (US$326m). Morgan Stanley is the financial adviser to the Offeror.

CMC is a Cayman-incorporated company listed on the Hong Kong Stock Exchange (Stock Code: 3668) which is the core platform of Aluminum Corporation of China ("Chinalco") for the future acquisition, investment, development and operation of non-ferrous and non-aluminium mineral resources and projects outside the PRC. The Offeror is a Hong Kong-incorporated investment holding company which is wholly-owned by Chinalco, which is a state-owned enterprise administrated by the SASAC. Chinalco principally engages in the mining, smelting and processing of non-ferrous metals and related trading, engineering and technological services.
Contacts

Corporate: Benita Yu (partner), Charlton Tse (partner), Justin Chan (associate), Winnie Liang (associate)