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

Synopsis

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.

Principals

target

Hbis Group / Posco Joint Venture

bidder

POSCO

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Market Context

Dealmakers

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