China Baowu becomes actual controller of Chongqing Iron and Steel
2020-09-17 14:34:35
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Chongqing Iron and Steel announced on September 16 that Four Rivers Investment, the original actual controller of Chongqing Iron and Steel, transferred its partnership interests of Four Rivers Investment Industry Development Funds to Desheng Group.Asian Metal CopyrightChongqing Iron and Steel announced on September 16 that Four Rivers Investment, the original actual controller of Chongqing Iron and Steel, transferred its partnership interests of Four Rivers Investment Industry Development Funds to Desheng Group.Asian Metal Copyright Meanwhile, it dismissed Four Rivers Investment Industry Development Funds and implemented non-cash distribution of its 75% equity of Changshou Iron and Steel to China Baowu and Desheng Group based on actual proportion of payment.Asian Metal CopyrightChongqing Iron and Steel announced on September 16 that Four Rivers Investment, the original actual controller of Chongqing Iron and Steel, transferred its partnership interests of Four Rivers Investment Industry Development Funds to Desheng Group.Asian Metal Copyright China Baowu obtained 40% equity and the control right of Changshou Iron and Steel by reaching concerted action agreement with strategic emerging industries equity investment funds of Chongqing.Asian Metal Copyright51%, and becomes the actual controller of this company.Asian Metal Copyright As a result, China Baowu can indirectly control 2,096,981,600 shares of the company, accounting for 23.Asian Metal Copyright Meanwhile, it dismissed Four Rivers Investment Industry Development Funds and implemented non-cash distribution of its 75% equity of Changshou Iron and Steel to China Baowu and Desheng Group based on actual proportion of payment.Asian Metal Copyright51%, and becomes the actual controller of this company.
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