China’s Chalco, Ivanhoe in Mongolia Coal Deal - Deal Journal - WSJ: "There’s a reshuffling of ownership in resource-rich Mongolia.
On Monday, Chinese state-owned Aluminium Corp. of China Ltd., or Chalco, said it would pay $926 million for a controlling stake in Mongolia-focused SouthGobi Resources from Canada’s Ivanhoe Resources.
The price represents a 29% premium over SouthGobi’s March 30 closing price of 51.20 Hong Kong dollars (US$6.59).
SouthGobi shares were up as much as 20% in Hong Kong on Monday. Chalco fell more than 2%."
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