22
Jun
11:03
TISCO terminates Xinhai restructuring
The board of directors of Taiyuan Iron & Steel (TISCO) Stainless has reviewed and approved a proposal that means TISCO has terminated its restructuring plan with Shandong Xinhai (Xinhai), Kallanish notes.
As early as April 2018, TISCO released an announcement that it will carry out a major asset reorganisation plan. It stated that it would purchase 51% of Xinhai by a cash payment or by issuing shares or both.
Xinhai's main busines…
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