Jinxi Steel acquires Chengde Zhaofeng's iron and steel capacity of 2.88 million tons

China Oriental Group announced that on October 10, 2019, the company indirectly owned a 97.Asian Metal Copyright75 million is paid to Chengde Zhaofeng by Fangchenggang Jinxi Steel in cash.Asian Metal Copyright6%-owned subsidiary, Fangchenggang Jinxi Steel and Chengde Zhaofeng entered into a capacity transfer agreement.Asian Metal Copyright5 million tons per year at a consideration of RMB552 million USD77,458,442 and RMB900 million USD126,290,939 respectively.Asian Metal Copyright According to the agreement, Chengde Zhaofeng agreed to sell the target production capacity to Fangchenggang Jinxi Steel, including target iron production capacity (1.Asian Metal Copyright The total consideration of RMB1.Asian Metal Copyright38 million tons per year) and target steel production capacity (1.Asian Metal Copyright38 million tons per year and target steel production capacity 1.Asian Metal Copyright5 million tons per year) at a consideration of RMB552 million (USD77,458,442) and RMB900 million (USD126,290,939) respectively.Asian Metal Copyright452 billion USD203.Asian Metal Copyright The total consideration of RMB1.Asian Metal Copyright According to the agreement, Chengde Zhaofeng agreed to sell the target production capacity to Fangchenggang Jinxi Steel, including target iron production capacity 1.Asian Metal Copyright452 billion (USD203.Asian Metal Copyright75 million is paid to Chengde Zhaofeng by Fangchenggang Jinxi Steel in cash.Asian Metal Copyright75 million) is paid to Chengde Zhaofeng by Fangchenggang Jinxi Steel in cash.
.Asian Metal Copyright According to the agreement, Chengde Zhaofeng agreed to sell the target production capacity to Fangchenggang Jinxi Steel, including target iron production capacity 1Asian Metal Copyright