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China's state-owned enterprises reform: consolidate or divest?
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Report summary
Aluminum Corporation of China (Chalco) suspended trading in China-listed A-shares on 12 September pending a major announcement that may constitute significant asset restructuring. The trading halt prompted speculation that the state-owned enterprise, State Power Investment Corporation (SPIC) will divest its aluminium business to Chalco. Will SPIC sell its aluminium business to Chalco and does it make sense? We explore the restructure options available to China's state-owned enterprises.
Table of contents
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Executive summary
- SPIC will divest its aluminium business to Chalco?
- SPIC – a power company with an aluminium business
- Chalco – trading on past glories
- Chalco + SPIC – pair up, but not square up?
- Future reformation paths of China’s state-owned enterprises
Tables and charts
This report includes the following images and tables:
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Chalco may become the second largest aluminium producer in the world with SPIC's assets
What's included
This report contains:
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