17
Jun
08:53
Chongqing Steel to acquire Changshou Steel assets
Chongqing Iron & Steel, a subsidiary of China Baowu Group, has announced its board of directors has approved a plan to acquire the assets of Changshou Iron & Steel, including coke ovens, sintering machines and blast furnaces, Kallanish notes.
The transaction price is set at CNY 3.551 billion ($552 million) for assets which had been valued at CNY 3.447 billion. Both prices are excluding taxes. The first instalment of CNY 1.062 billion must be paid within fi…
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Very good overview of the weekly steel market.
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