03
Nov
09:15
Bayi Steel to merge three subsidiaries
Xinjiang Baiyi Steel Co., Ltd (Bayi), the listed arm of Baowu Bayi Steel (Baowu Bayi), is planning to purchase another two subsidiaries of Baowu Bayi for its business extension in the ferrous industry chain. The two companies are Xinjiang Bagang Metal Products Company and Xinjiang Coking Coal Group (XCCG), Kallanish notes.
Bayi intends to acquire 100% equity of the two target companies in cash, which is estimated to cost CNY 2-2.2 billion ($313-344 million). The t…
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Anonymous
Very good overview of the weekly steel market.
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