Jiangxi Tungsten to take control of Anyuan Coal

Jiangxi Tungsten Holding Group is set to acquire a 39.34% stake in Anyuan Coal Industry Group (SSE:600397) from Jiangxi Energy Group, making it the new controlling shareholder. The transaction, a state-owned equity transfer, involves no cash consideration. Jiangxi Province State-owned Assets Supervision and Administration Commission (SASAC), which currently controls both Jiangxi Energy and Jiangxi Tungsten indirectly, will remain the ultimate controller of Anyuan Coal after the transfer. The deal is pending regulatory approvals, including from the State-owned Assets Supervision and Administration Commission and the State Administration for Market Regulation. The transfer does not involve any job changes at Anyuan Coal, and all existing debts and liabilities will remain with the listed company. The share transfer will result in Jiangxi Investment Group becoming the controlling shareholder of Jiangxi Tungsten.