25
Apr
06:26
Baowu to take control of Xinyu Steel
The State-owned Assets Supervision and Administration Commission (SASAC) of China’s Jiangxi Province has signed a protocol with Baowu Group, under the national SASAC, for the transfer of 51% of Xinyu Steel Group. This is according to Shanghai Stock Exchange-listed Xinyu Steel.
Once the free equity transfer is completed, Baowu will hold a 44.81% indirect stake in Xinyu Steel through Xinyu Steel Group. Baowu could thus become the actual controller of…
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Anonymous
Very good overview of the weekly steel market.
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