25
Aug
01:00
Baosteel and Visa Steel restructure
China’s Baosteel will take a 5% stake in Visa Steel as part of the Indian firm’s restructuring, Visa Steel has told the Bombay Stock Exchange. The move will also mean the relocation of the group’s special steel capacity into a subsidiary, Kallanish notes.
Visa currently owns 65% of Visa Bao, a ferrochrome producer in Kolkata, with the remainder held by Baosteel Resources. On 21 August Visa’s board approved the complete absorption of t…
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Anonymous
Very good overview of the weekly steel market.
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