12
Feb
06:31
Shougang lowers return expectations for Eastern Steel off-load
China’s Shougang has slashed its expectations for financial return from its investment in Malaysia’s Eastern Steel according to a Beijing Equity Exchange announcement last week.
Shougang put its shareholding and financial interests in Eastern Steel up for sale in December 2017 but up to last week this had attracted no interest, Kallanish notes. It has therefore significantly reduced its asking price for the package from CNY 864.76 mill…
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