05
Dec
12:57
Fosun completes sale of Nangang
Fosun Group's listed arm, Fosun International, has publicly announced that the sale of Nanjing Nangang Iron & Steel United Co. (Nangang United) to CITIC was completed on 4 December.
After months of negotiations between Fosun, CITIC and Shagang, CITIC-backed Hubei Xinye Steel and Nangang Group have gained the 60% of Nangang United. Nangang Group therefore will hold 100% of the shares of Nangang United, and indirectly hold 59.1% of the shares of Na…
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Very good overview of the weekly steel market.
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