Baowu Steel's acquisition of 51% equities of TISCO passes China's antitrust scrutiny
2020-11-12 11:34:33 [Print]
According to the announcement released by TISCO Stainless Steel on the evening of 10 November, the company made public earlier that Shanxi State-owned Capital Operation Co., Ltd. will transfer 51% equities of TICSO, its controlling shareholder, to Baowu Steel in a gratuitous manner. On 10 November, Baowu Steel received the decision from State Administration for Market Regulation, which decided not to ban Baowu Steel from acquiring equities of TISCO.
On 5 November, Baowu Steel received approval for this acquisition from The Korea Fair Trade Commission.
On 5 November, Baowu Steel received approval for this acquisition from The Korea Fair Trade Commission.
