China Securities approves Chalco's acquisition of Baotao Aluminium

Beijing, Dec 10 -- China Securities Regulatory Commission has approved the merger between Baotou Aluminium Co., Ltd and Chalco, or Aluminium Company of China, the company said in a statement. This is the third time for Chalco to acquire its listed subsidiary company. The company said in a report to Shanghai Stock Exchange that it will report once received authorized documents. Chalco's A shares have been to resume trading on Dec 10, 2007. Earlier, the two companies said in a joint statement, Chalco will issue A-share to buy Baotou Aluminium. Baotao Aluminium can receive CNY21.67 cash for a share, or exchange shares at rate of 1:1.48. The offer has been approved in the shareholders conference of Baotou Aluminium.