London | Monday 12 June 2017
Shaanxi Ligeance Mineral Resources (SLMR) completes its acquisition of Gardner Aerospace for £326m
Further to the announcement made on Wednesday 16 November 2016 Shaanxi Ligeance Mineral Resources ("SLMR") and its subsidiary Chengdu Aerospace Superalloy Technology ("CAST") is pleased to announce its acquisition of Gardner Aerospace has now completed.
The transaction provides SLMR and CAST:
- – Access to a world class aerospace manufacturer of scale;
- – Strong European customer base with an order book in excess of €1 billion;
- – Experienced and international management team; and
- – Material opportunities for growth in both domestic markets but also exciting China / Asian growth markets
SLMR, which is listed on the Shenzhen stock exchange with a market capitalisation of £1.4bn, was advised by Steen Associates, Herbert Smith Freehills and KPMG in connection with the acquisition.
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Notes to Editors:
Shaanxi Ligeance Mineral Resources Co., Ltd. is an A-share listed company on the China main board Market with stock code 000697. Their main business is divided into two sections: the mining sector and the aviation sector. Market value 12 billion yuan (£1.35 billion), 500 million yuan (£56 million) cash balance.
CAST is a wholly owned subsidiary of Shaanxi Ligeance Mineral Resources Co., Ltd. based in Chengdu, China.
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