15
Oct
11:21
Chongqing Steel terminates Chonggang Group acquisition
Chongqing Iron & Steel Co. (Chongqing Steel) has abandoned its plan to acquire 100% of Chongqing Iron & Steel (Group) Co., Lt. (Chonggang Group), Kallanish notes.
Chongqing Steel attributes this termination to the fact that the transfer base price of the 100% Chonggang Group equity has always been higher than its expectations. The 100% equity transfer plan was released on 20 March and listed on the Chongqing United Property Rights Exchange. The base p…
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