Xining Special Steel to sell stakes in its subsidiaries at RMB1.36b
2017-11-07 15:20:54
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Xining Special Steel announced on the evening of November 3rd that the company intends to sell a 70% stake in Subei Bolun, a 100% stake in Hami Bolun, a 100% stake in Golmud Xining Steel Mining and a 100% stake in Qilian Xining Steel Mining to its controlling shareholder Xining Steel Group.Asian Metal CopyrightXining Special Steel announced on the evening of November 3rd that the company intends to sell a 70% stake in Subei Bolun, a 100% stake in Hami Bolun, a 100% stake in Golmud Xining Steel Mining and a 100% stake in Qilian Xining Steel Mining to its controlling shareholder Xining Steel Group.Asian Metal Copyright The move aims to further concentrate financial, material and human resources to improve its main business of steel and iron.Asian Metal CopyrightXining Special Steel announced on the evening of November 3rd that the company intends to sell a 70% stake in Subei Bolun, a 100% stake in Hami Bolun, a 100% stake in Golmud Xining Steel Mining and a 100% stake in Qilian Xining Steel Mining to its controlling shareholder Xining Steel Group.Asian Metal Copyright The selling price of the above assets totaled RMB1,364,778,000.Asian Metal CopyrightXining Special Steel announced on the evening of November 3rd that the company intends to sell a 70% stake in Subei Bolun, a 100% stake in Hami Bolun, a 100% stake in Golmud Xining Steel Mining and a 100% stake in Qilian Xining Steel Mining to its controlling shareholder Xining Steel Group.Asian Metal Copyright Upon the completion of the transaction, the company’s profitability will be enhanced with its heavy assets declining.
.Asian Metal Copyright Upon the completion of the transaction, the company’s profitability will be enhanced with its heavy assets decliningAsian Metal Copyright
