China Direct Industries in Definitive Agreement to Sell Its 51% Stake in Shanxi Pan Asia Magnesium Company for $3M

by Eddie Staley, Benzinga Editor

August 11, 2011 8:02 AM | 16 seconds read | Make a Comment

China Direct Industries

CDII

announced today that as of August 8, 2011 it has entered into a definitive agreement to sell its 51% stake in Shanxi Pan Asia Magnesium Company for $3.05 million in cash to Bloomgain Investment Company, Ltd., a privately held British Virgin Island company.

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China Direct Industries in Definitive Agreement to Sell Its 51% Stake in Shanxi Pan Asia Magnesium Company for $3M