Zijin Mining adjusts terms in Zangge Mining acquisition deal

Zijin Mining Group Co., Ltd. (SSE:601899) announced adjustments to its acquisition of a controlling stake in Zangge Mining Co., Ltd. The key change involves adding Zangge Mining's actual controller, Xiao Yongming, as a transferor, and adjusting the internal share transfer proportions among Zangge parties. As part of the agreement, Zijin Mining's wholly-owned subsidiary, Zijin International Holdings, will still acquire 392,249,869 shares of Zangge Mining at a price of CNY 35 per share, totaling CNY 13,728,745,415. The adjustments accommodate share pledges and regulatory approvals. Zijin International Holdings is also authorized to unilaterally terminate the supplementary agreement under certain conditions, reverting to the original acquisition plan if necessary. The initial payment of 10% of the total consideration, amounting to CNY 1,372,874,541.5, has been completed.