27
Oct
00:00
Wugang swaps steelworks for trading arm
The Shanghai-listed Wuhan Iron and Steel (Wugang) has announced details of a restructuring plan intended to boost its results and share price. The steelmaker will swap assets with its parent, Wuhan Iron and Steel Group, Kallanish notes. This will allow it to divest its loss-making Echeng steelworks and take control of the group’s profitable international trading arm for a price of Yuan 4.11 billion ($670 million).
Wugang bought a majority stake in Eche…
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Anonymous
Very good overview of the weekly steel market.
Anonymous