20
Aug
08:18
Angang increases holding in Zhoukou Steel
Anyang Iron & Steel Group (Anyang) has decided to invest CNY 1.6 billion ($231 million) into Zhoukou Steel, thereby increasing its shareholding, Kallanish notes.
After increasing capital, Anyang will hold 76.92% of Zhoukou Steel’s shares since other shareholders waived their right to increase holdings by the same proportion. Anyang’s previous shareholding was 40%.
Anyang decided to transfer 1.65 million tonnes/year of ironmaking and 1.8m t/y …
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