07
Dec
08:36
Sinosteel sells ferro-alloys subsidiaries for 1 yuan each
State-owned steelmaker, trader and equipment manufacturer Sinosteel is selling all its shares in two Jilin-based ferro-alloy subsidiaries for only CNY 1 ($0.15) each, according to a report on the China Beijing Equity Exchange. Buyers can only make the deal by taking both of them however, Kallanish notes.
Sinosteel has officially confirmed that its debt-for-equity agreement received approval from the State Council in September. It is selling assets to relieve its…
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Anonymous
Very good overview of the weekly steel market.
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