19
Dec
03:41
Delong Steel acquires control of Tangshan Delong
Delong Iron & Steel has become a shareholder and taken control of Tangshan Delong, Kallanish notes.
On 12 December, the day of the acquisition, Tangshan Delong's registered capital was increased from CNY 360 million ($51.44m) to CNY 5.96 billion ($851.66m). Delong Iron & Steel has taken a stake exceeding 93% in Tangshan Delong. The actual controller of the company has been changed to Delong's Ding Liguo.
Although Tangshan Delong is affil…
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Anonymous
Very good overview of the weekly steel market.
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