# ERASTEEL to sell 10.29% stake in Heye Special Steel to AT&M

ERASTEEL, a subsidiary of ERAMET, signed a memorandum of understanding to sell its 10.29% stake in Heye Special Steel Co., Ltd to AT&M for 109.5 million yuan (approx. €15 million). The transaction is expected to close in the second half of 2017.

- Type: Acquisition
- Announced: 2017-05-12
- Where: Tianjin, China
- Value: $15.9M (109.5M CNY)
- Status: announced
- Products: high-speed steels
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [ERASTEEL](https://endata.com/companies/24243.md)
- [ERASTEEL](https://endata.com/companies/24243.md) (acquirer)
- [ERAMET](https://endata.com/companies/24244.md) (partner)
- [Advanced Technology & Materials Co., Ltd](https://endata.com/companies/24245.md) (acquirer)
- [Heye Special Steel Co., Ltd](https://endata.com/companies/24246.md) (target)
- [HEIML](https://endata.com/companies/24247.md) (target)

## Sources

- [globenewswire.com](https://www.globenewswire.com/news-release/2017/05/12/984489/0/en/eramet-group-change-in-the-partnership-between-erasteel-and-heye-special-steel-co-ltd-in-china.html), 2017-05-12: "ERASTEEL is expected to sell its 10.29% stake in Heye Special Steel Co., Ltd to AT&M, Heye's majority shareholder."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.