27
Nov
04:25
Shagang adjusts plans for acquiring Suzhou Qinfeng
Major Chinese steelmaker Shagang has issued an announcement adjusting its plans for acquiring Suzhou Qinfeng. It has reduced the transaction price to CNY 18.814 billion ($2.86 billion), Kallanish notes. Shagang is now Suzhou Qinfeng’s largest shareholder with a 34.15% stake.
In November 2018, Shagang released plans to purchase 100% of Suzhou Qinfeng, which owns UK data centre firm Global Switch. The estimated value of the target company dropped from CNY…
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Anonymous
Very good overview of the weekly steel market.
Anonymous