Announced
Financials
Sources
Tags
China
Domestic
Private
Iron and Steel
Friendly
Pending
Majority
steel manufacturing
Private Equity
Single Bidder
Acquisition
iron and steel
Synopsis
CITIC, a state-owned investment company of the People's Republic of China, agreed to acquire a 55% stake in Nanjing Iron & Steel Group, a Chinese iron and steel conglomerate company, for $2bn. The acquisition represents the further consolidation of China's domestic steel mills.
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