Announced
Financials
Sources
Tags
iron and steel
Majority
Iron and Steel
Private
Pending
China
Acquisition
Single Bidder
Friendly
Synopsis
China Baowu Steel, a state-owned Chinese iron and steel company, agreed to acquire a 51% stake in Magang, one of the largest iron and steel enterprises in Mainland China. Financial terms were not disclosed. "The Baowu acquisition is an important measure to accelerate the merger and reorganization of overcapacity industries,” Magang.
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