Liaoning Hongyang Energy Resource Invest Co has announced that it is planning over the acquisition of at least 99 percent of Shenyang Coking Coal Group with an offer of 6.39 billion yuan ($160 million), Sinocast reported on Monday, Jan 19. The company plans to get around 61 percent of the equity from the Shenyang Coal Group and 16.4 percent from the China Cinda Assets Management Corp and to finance the deal by issuing around 316 million shares (raising 2.13 billion yuan). This will help the company expand into coal mining.

Source: China Daily Liaoning Office

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