12
Nov
03:24
CITIC to acquire the rest of Xingcheng
CITIC Special Steel has announced that it has signed a contract to buy the remaining 13.5% of Xingcheng Special Steel from Taifu Investment, Kallanish notes.
The value of transferred assets is estimated at CNY 36.1 billion ($5.15 billion). After the transaction, Xingcheng will become a wholly owned subsidiary of CITIC Special Steel. CITIC Special Steel effected a reverse listing earlier in 2019 to unify all its special steel capacity under CITIC banner…
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Anonymous
Very good overview of the weekly steel market.
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