State Council SASAC to actually control Xinyu Iron and Steel
2022-04-25 17:29:56 【Print】
Xinyu Iron & Steel Co
. , Ltd . announced on April 24 that its holding company Jiangxi State-Owned Assets Holdings will transfer 51% of stake it hold of Xinyu Iron & Steel Corporation Limited to China Baowu Steel free of charge, after which China Baowu Steel will indirectly control 44 . 81% shares of Xinyu Iron & Steel Co . , Ltd . through (or held by) Xinyu Iron & Steel Corporation Limited and achieve control over the company . The actual controller of Xinyu Iron & Steel Co . , Ltd . will be changed from State-owned Assets Supervision and Administration Commission (SASAC) of Jiangxi Province to State-owned Assets Supervision and Administration Commission of the State Council.