28
May
08:10
Shagang purchases equity of Yinglun from Dongbei Special
Jiangsu Shagang has achieved 67% equity control of DongBei Special Steel Group Shandong Yinglun Machincal from DongBei Special Steel Group and has completed the official change in registration, Kallanish notes.
Shanggang had planned to spend CNY 354 million ($48.9m) to become the major shareholder of Shandong Yinglun to expand its industry strategy, and increase asset scale and profitability according to its statement this March. Although the actual controller of …
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