HBIS Group and POSCO to invest $600m to set up a joint venture.

Financials

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Transaction Value£431m

Consideration TypeCash

Capital Owned-

Capital Bid For100%

EV/Sales-

EV/EBITDA-

Share Price Premium-

One Off Charge-

bidder

POSCO

target

Hbis Group / Posco Joint Venture

bidder

Hbis Group

Sources

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Tags

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Friendly

Joint Venture

Auto Parts

Single Bidder

Majority

Cross Border

automotive steel plates

Private

China

Acquisition

Pending

Synopsis

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Steelmakers HBIS Group and POSCO, agreed to invest $600m to set up a joint venture. The steelmakers will each invest $300m and take a 50% stake in the joint venture, which plans to start construction of a steel plate plant in Tangshan - the heart of China's steel industry.