Reuters: Deals: China's Chalco seeks Ivanhoe's South Gobi stake for $926 million

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China's Chalco seeks Ivanhoe's South Gobi stake for $926 million Apr 2nd 2012, 00:57 HONG KONG | Sun Apr 1, 2012 8:57pm EDT HONG KONG (Reuters) - China's state-owned aluminum producer Chalco said on Monday it proposed to pay $926 million for Ivanhoe Mining's majority stake in South Gobi Resources, a Canadian and Hong Kong listed mining company focused on Mongolia. Chalco (601600.SS) (2600.HK) said in a statement that it has agreed to buy the 57.6 percent Ivanhoe (IVN.TO) stake for C$8.48 per share, a 28.1 percent premium to South Gobi's (SGQ.TO) (1878.HK) Friday closing stock price. The Hong Kong price of the offer is HK$65.97, the company said.

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