07
Aug
10:43
Hegang pulls out of Tata acquisition
China’s Hebei Iron and Steel (Hegang) has cancelled an agreement to purchase majority control of Tata Steel’s Southeast Asian assets, according to a filing on the Stock Exchange of Thailand. While the official reason given is the lack of government approval, sources suggest a number of problems with the contract, Kallanish notes.
The notice from Tata Steel (Thailand) says that Hegang has not been able to secure approval from the government …
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