13
Nov
10:42
CITIC Pacific aims for Nangang equity transfer
CITIC Pacific has committed to avoiding inter-industry competition, removing almost the last visible obstacle to its acquisition of listed Nanjing Iron & Steel (Nangang), Kallanish notes.
After Shagang’s proactive withdrawal from its legal suit, CITIC Pacific is set to gain a 55.2482% stake in Nangang Group through its subsidiary Hubei Xinyegang. CITIC Pacific can therefore achieve indirect control over Nangang by holding the latter’s 59.1% equity …
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Very good overview of the weekly steel market.
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