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Qiao Xing Universal Acquires Balinzuo Banner Xinyuan
May. 26, 2010 06:49PM PST
Lead InvestingQiao Xing Universal Resources Inc. (XING), an emerging Chinese resources company headquartered in Huizhou, Guangdong Province, has announced that its wholly-owned subsidiary Chifeng Zhongtai Mining Co., Ltd. has signed a letter of intent with Chifeng Xingu Mining Co., Ltd., to acquire the 100% equity interest in Balinzuo Banner Xinyuan Mining Co., Ltd..
This is for a […]
Qiao Xing Universal Resources Inc. (XING), an emerging Chinese resources company headquartered in Huizhou, Guangdong Province, has announced that its wholly-owned subsidiary Chifeng Zhongtai Mining Co., Ltd. has signed a letter of intent with Chifeng Xingu Mining Co., Ltd., to acquire the 100% equity interest in Balinzuo Banner Xinyuan Mining Co., Ltd..
This is for a purchase price not to exceed US$ 107 million (RMB 730 million) in cash to be paid in several installments.
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