Baosteel Metal increases sake in Baowu Magnesium to 26.53%

On June 25, Baosteel Metal signed a share transfer agreement with shareholders of Baowu Magnesium to acquire an additional 49,589,578 shares at RMB11.Asian Metal CopyrightOn June 25, Baosteel Metal signed a share transfer agreement with shareholders of Baowu Magnesium to acquire an additional 49,589,578 shares at RMB11.Asian Metal Copyright94 (USD1.Asian Metal Copyright .Asian Metal Copyright67) per share, for a total consideration of approximately RMB 592 million (USD 82.Asian Metal Copyright62 million.Asian Metal Copyright62 million).Asian Metal Copyright62 million.Asian Metal Copyright The transaction represents 5% of Baowu Magnesium's total equity.

Upon completion, Baosteel Metal's stake in Baowu Magnesium will increase to 26.53%, further strengthening its control over the company.Asian Metal Copyright67 per share, for a total consideration of approximately RMB 592 million USD 82.Asian Metal Copyright The company stated that the move will enhance industrial synergies, accelerate the development of its light metals business, and establish Baowu Magnesium as a key platform in China Baowu's light metal strategy.

.Asian Metal Copyright The company stated that the move will enhance industrial synergies, accelerate the development of its light metals business, and establish Baowu Magnesium as a key platform in China Baowu's light metal strategyAsian Metal Copyright