Baowu Steel files at NDRC for acquiring H-shares of Masteel
2019-09-04 15:48:06 [Print]
On 3 September, Masteel Group released an announcement and stated that the State-owned Assets Supervision and Administration Commission of the State Council will be the actual controller of Masteel after Anhui Provincial State-owned Assets Supervision and Administration Commission transfers 51% equities of Masteel to Baowu Steel for free as announced earlier. Besides, Baosteel Hong Kong Investment Company Limited put forward that it may acquire all issued H-shares of Masteel in terms of a compulsory and conditional cash offer and filed for related investment items of the H-shares tender offer. On 30 August, National Development and Reform Commission (NDRC) issued the "filing notice of overseas investment items" to Baowu Steel and finished filing for the H-shares tender offer.
