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    Sangang Minguang plans to acquire 100% equity of Luoyuan Minguang

    2020-06-03 16:56:19   [Print]
    On 2 June, Sangang Minguang announced that in order to avoid horizontal competition and reduce related transactions, the company plans to acquire 100% equity of Fujian Luoyuan Minguang Steel Co.Asian Metal Copyright, Ltd.Asian Metal Copyright, Ltd.Asian Metal CopyrightOn 2 June, Sangang Minguang announced that in order to avoid horizontal competition and reduce related transactions, the company plans to acquire 100% equity of Fujian Luoyuan Minguang Steel Co.Asian Metal Copyright from its controlling shareholder Sangang Group for a total amount of RMB2,151,284,400 (USD307,326,342) in cash.

    Luoyuan Minguang mainly produces steel for construction, with an annual steel output of about 1,900,000t.

    .Asian Metal Copyright from its controlling shareholder Sangang Group for a total amount of RMB2,151,284,400 USD307,326,342 in cashAsian Metal Copyright
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