Shagang Investment acquired about 214 million shares of Zangg Mining from the actual controller of Zangg Mining and its concerted actions at a total price of RMB 4.693 billion. After this acquisition, Shagang Investment acquired 18.17% of the shares of Zangg Mining and became the second largest shareholder of Zangg Mining.
JT&N, as the legal adviser of Shagang Investment in this overall share transfer transaction, participated in the transaction scheme design, legal due diligence of listed companies and counterparties, compilation of transaction documents and share delivery, etc., helping the client to resolve the debt dilemma of the controlling shareholder of Zangge Mining and successfully completing its stock reserve split-up obligations.
The project was led by the senior partner Wenwen ZHAO, Zimian DUAN, and Xiaochen YING, and was jointly completed by Lijun LU, Li YU, Xi LV, and Shengwei CHU as legal assistants.
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