TISCO Stainless Steel: Gratuitous transfer of holding shareholder TISCO's 51% equities passes South Korean anti-monopoly review
2020-11-06 11:16:27 [Print]
TISCO Stainless Steel announced that Shanxi State-owned Capital Operation Co., Ltd. will transfer 51% equities of TICSO it holds to Baowu Steel in a gratuitous manner. Regarding centralized declaration of South Korean operators involved, Baowu Steel received the approval from The Korea Fair Trade Commission (KFTC) on 5 November. KFTC confirmed that the transfer didn't violate relevant legal provisions of South Korea.
TISCO Stainless Steel announced earlier that Shanxi State-owned Capital Operation Co., Ltd. holding 100% equities of its holding shareholder TISCO and Baowu Steel with State-owned Assets Supervision and Administration Commission of the State Council as the controlling shareholder signed a gratuitous transfer agreement, according to which the former will transfer 51% equities of TISCO it holds to the latter for free.
TISCO Stainless Steel announced earlier that Shanxi State-owned Capital Operation Co., Ltd. holding 100% equities of its holding shareholder TISCO and Baowu Steel with State-owned Assets Supervision and Administration Commission of the State Council as the controlling shareholder signed a gratuitous transfer agreement, according to which the former will transfer 51% equities of TISCO it holds to the latter for free.
