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FINWIRES

Xinjiang Tianye to Acquire Four Subsidiaries from Parent Affiliate

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-- Xinjiang Tianye (SHA:600075) plans to acquire Xinjiang Tianfu Xinyue Energy's four subsidiaries, according to a Friday disclosure on the Shanghai bourse.

The seller, Xinjiang Tianfu Xinyue Energy, is a subsidiary of the company's controlling shareholder.

The subsidiaries for acquisition are Jinghe County Jingyi Mining, Tianbo Chenye Mining, Turpan Tianye Mining Development and Xinjiang Tianye Group Mining.

The final acquisition plan is still being discussed.

The chemical product manufacturer's shares rose 2% during the afternoon trade.

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