Macquarie to buy a 20 percent stake in Chinese metals trader

June 29, 2015 10:49 AM

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HONG KONG, June 29 China's metals trading firm Jinchuanmaike Metal Resources Co Ltd will sell a 20 percent stake to Australia's Macquarie Bank for about $50 million through an issue of new shares, two sources at the Chinese company said on Monday.

"(We) will increase capital and expand shares," one of the sources at Jinchuanmaike said. He said Macquarie signed a framework agreement to buy the shares on Saturday in Shanghai.

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