Huaibei Mining Holdings Co.,Ltd. (SHSE:600985) agreed to acquire an additional 27% stake in Anhui Bozhou Coal Industry Co., Ltd. from Hbcoal.com Inc. for approximately CNY 990 million on December 26, 2017. On December 31, 2017, an agreement was signed. Prior to the transaction, Hbcoal.com Inc. held 27% stake and Huaibei Mining Holdings Co.,Ltd. held 33% stake in Anhui Bozhou Coal Industry Co., Ltd. After the transaction, Huaibei Mining Holdings Co.,Ltd. will hold 60% stake and Hbcoal.com Inc. will hold no stake in Anhui Bozhou Coal Industry Co., Ltd. Anhui Bozhou Coal Industry Co., Ltd. reported total assets of CNY 5.77 billion and total shareholders' equity of CNY 2.89 billion as at July 31, 2017. The shareholders of Huaibei Mining Holdings Co.,Ltd. and Anhui Bozhou Coal Industry Co., Ltd. approved the transaction on December 26, 2017. On December 28, 2017, the Board of Hbcoal.com Inc. approved the transaction.