Anyuan Coal plans major asset swap with Jiangxi Tungsten

Anyuan Coal Industry Group (SSE:600397) announced plans for a major asset restructuring and related-party transaction with its controlling shareholder, Jiangxi Tungsten Holding Group. The proposed deal involves Anyuan Coal acquiring 57% equity in Ganzhou Jin Huan Magnetic Selection Technology Equipment Co., Ltd. from Jiangxi Tungsten Development Co., a subsidiary of Jiangxi Tungsten. In exchange, Anyuan Coal will transfer coal-related assets and liabilities, with any price difference settled in cash. The specific assets to be divested by Anyuan Coal are yet to be determined. The transaction constitutes a related-party deal and, based on preliminary assessments, could be classified as a major asset restructuring, but will not involve share issuance or change in control of Anyuan Coal. The company has engaged financial and legal advisors to proceed with the transaction, and will follow all necessary regulatory approval processes. Trading of Anyuan Coal's shares remains uninterrupted during this process.