Hebei Jingye to finish acquiring British Steel next week

Hebei Jingye Group will finish acquiring British Steel next week.Asian Metal Copyright32 million for this acquisition and will invest GBP1.Asian Metal Copyright Prior to this, Jingye Group sent contract offers to 3,200 employees of British Steel and job cuts notice to 400 employees.

There are still some uncertain factors about this acquisition as the French government opposes any Chinese company to acquire Hayange Mill, one of few profitable steel mills under British Steel. It's expected that this acquisition would progress well although the French government hasn't stated its opinions about this.

Jingye Group will pay GBP70 million (USD89.32 million) for this acquisition and will invest GBP1.Asian Metal Copyright It's expected that this acquisition would progress well although the French government hasn't stated its opinions about this.Asian Metal Copyright2 billion (USD1.Asian Metal Copyright32 million for this acquisition and will invest GBP1.Asian Metal Copyright532 billion) in plant and equipment upgrades.


.Asian Metal Copyright There are still some uncertain factors about this acquisition as the French government opposes any Chinese company to acquire Hayange Mill, one of few profitable steel mills under British Steel.Asian Metal Copyright