Sunday, July 26, 2015

Chinese Government Takes Control of SouthGobi Resources

July 26 (Cover Mongolia) On July 20, SouthGobi Resources’ largest shareholder, Novel Sunrise Investments Limited (Novel) who owns 29.04%, announced that its full ownership has been acquired by China Cinda Asset Management Corporation Limited.

It has been revealed soon after that the Ministry of Finance of the People's Republic of China is the largest shareholder in British Virgin Islands-based China Cinda with 67.84%, according to a Disclosure of Interests notice published on July 23.

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