01
Apr
07:44
Daye to take 83.6% stake in Xingcheng
China's Daye Special Steel (Daye) aims to purchase 83.6% of Xingcheng Special Steel (Xingcheng), valued at CNY 23.179 billion ($3.449 billion), according to the draft restructuring plan for Xingcheng released on 29 March.
Because the actual controller for both companies is CITIC Group, after the recombination all of the group's special steel companies will come under its listed arm, Kallanish notes.
Through the transaction, a new brand, CITI…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous