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Chalco could become largest listed aluminum maker after takeover

Share purchase of Yunnan Aluminum to solve 'competition problem' with peer

Aluminum Corp. of China and Yunnan Aluminum are under the same parent, state-owned giant Chinalco.   © Reuters

Aluminum Corp. of China, known as Chalco, will take control of Yunnan Aluminum, which analysts said could make it the world's largest listed aluminum producer.

Shanghai and Hong Kong-listed Chalco will pay 6.66 billion yuan ($986.5 million) for around 19% of Yunnan Aluminum, the company said in a Sunday exchange filing. The per share price of 10.11 yuan represents a premium of 5.5% on Friday's closing price.

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