04
Jun
12:16
Delong consolidates with Evraz stake buy-out
Best Decade Holdings has consolidated its control of Singapore-listed Chinese steelmaker Delong Holdings after agreeing to buy a 15.04% stake from Russia’s Evraz. The move marks a formal end to Evraz’s unfortunately-timed attempt to take over the steelmaker, Kallanish notes.
Evraz has agreed to sell its stake for $91.7 million, a 65% premium to the SGX-traded share value. Delong sold 3.93 million tonnes of hot rolled coil in 2017, flat from…
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Anonymous
Very good overview of the weekly steel market.
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