25
Jan
09:13
Krakatau Steel increases stake in Krakatau Posco
Major Indonesian state-owned steelmaker Krakatau Steel will increase its non-controlling stake in a joint venture with South Korean steel giant Posco, through an injection of land and equipment. Krakatau Steel's non-controlling stake in Krakatau Posco will rise from 30% to 50% upon completion of the transaction, Kallanish notes.
This capital increase is an important part of a plan to save the Indonesian SOE from bankruptcy. The additional capital value is…
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Anonymous
Very good overview of the weekly steel market.
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