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China Baowu's integration of Maanshan Iron and Steel Co., Ltd.

2019-09-07 16:21:46
Maanshan Iron and Steel Co., Ltd. announced on the evening of September 3 that the company’s previously disclosed “Anhui SASAC’s transfer of 51% equity of Maanshan Iron and Steel Group to China Baowu without compensation” involved the H-share tender offer, which was on August 30. The day was filed by the National Development and Reform Commission. For this transfer, Maanshan Iron & Steel Co., Ltd. said that the move is intended to integrate and optimize the steel production business between China Baowu and the company to increase the market concentration of the Chinese steel industry, thereby enhancing the expansion of China Baowu in the global market. The overall competitiveness.