03
Jun
07:24
Sangang lists subsidiary Luoyuan Minguang
Fujian Sangang Steel Group's listed subsidiary Sangang Minguang has issued a public announcement introducing the purchase plan of Sangang's Luoyuan Minguang Steel, Kallanish notes. The purpose of this transaction is to avoid peer competition and reduce related party transactions, Sangang says.
The transaction price was CNY 2.15 billion ($302.84 million). As of 31 December 2019, Luoyuan Minguang's net value was CNY 1.97 bil…
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