25
Nov
06:48
Baowu to acquire Xinjiang Yili Steel
Xinjiang Bayi Iron & Steel says subsidiary Tianshan Steel will acquire 77.125% of Xinjiang Yili Iron & Steel, which is currently held by 31 employee shareholders, Kallanish notes.
As Tianshan Steel is actually an acquisition platform, this equity transfer indicates another major step in Baowu’s integration of steelmakers in Xinjiang. The equity transfer payment is initially determined as CNY 1.451 billion ($220.4 million).
After this equity tra…
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Anonymous
Very good overview of the weekly steel market.
Anonymous