Announced
China Baowu to acquire a 51% stake in TISCO for $2.1bn.
Synopsis
China Baowu Steel Group, a steelmaker, agreed to acquire a 51% stake in Taiyuan Iron & Steel Group, a steel manufacturer, for $2.1bn. "A controlling stake in TISCO will help Baowu achieve a goal of producing 100m tonnes of steel per year and enhance its overall competitiveness in the stainless steel sector,” Baowu.
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