13
Sep
11:20
Shougang to achieve full control of Jingtang plant
Beijing Shougang intends to purchase 49% of Shougang Steel Trade Investment (SSTI) by a non-public issuance of shares from its controlling shareholder Shougang Group. The value is still to be determined.
After the acquisition, Shougang will hold 100% stakes in both SSTI and Shougang Jingtang, Kallanish notes. This will increase the proportion of the assets and profits of the two companies included in Shougang, enhancing the profitability of the latter.
At the sam…
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Anonymous
Very good overview of the weekly steel market.
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