28
Mar
07:24
Nippon Steel completes global special steel consolidation
Japan’s Nippon Steel & Sumitomo Metal Corporation (Nippon Steel) has completed its acquisition of 51% of Sanyo Special Steel. The acquisition is part of its plan to build a global special steel giant, Kallanish notes.
The 51% stake in Sanyo was priced at exactly the level as a simultaneous sale of 100% of Ovake to Sanyo. As a result, Nippon Steel now owns 51% of Sanyo, which full owns Ovako. By streamlining the two companies alongside Nippon Steel&rsqu…
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Anonymous
Very good overview of the weekly steel market.
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