05
Sep
07:11
CITIC continues Nangang acquisition
The listed arm of Nanjing Iron & Steel announced on the Shanghai Stock Exchange that it has received tender offers from Hubei Xinye Steel and Nanjing Iron & Steel Group.
This means that CITIC-backed Hubei Xinye Steel will carry out the acquisition of Nanjing Nangang Iron & Steel United Co. (Nangang United), Kallanish notes. After Shagang voluntarily withdrew its lawsuit (see Kallanish passim), the equity dispute between Shagang, Fosun and CITIC ov…
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Anonymous
Very good overview of the weekly steel market.
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