Yuntu Holdings (002539.SZ) subsidiary plans to form a joint venture with Zangge Mining and invest in a potash project in the Republic of the Congo.

Zhito Finance APP News: Yuntu Holdings (002539.SZ) announced that its wholly-owned subsidiary Yingcheng Chemical Company plans to jointly invest with Zangge International, a wholly-owned subsidiary of Zangge Mining, to establish a joint resources company in Singapore, with a registered capital of USD 1, of which Yingcheng Chemical Company will hold 25% and Zangge International will hold 75%. After the establishment of the joint resources company, it plans to acquire 92% equity of Kanga Potash (referred to as "KP Company") for USD 171 million (equivalent to approximately RMB 1.157 billion, excluding transaction taxes and fees). Yingcheng Chemical Company's total investment amount corresponding to its 25% shareholding ratio is USD 42.7616 million (equivalent to approximately RMB 289 million). After the transaction is completed, Yingcheng Chemical Company will hold 25% equity of the joint resources company, and the joint resources company will hold 92% equity of KP Company.