Baowu Steel in talks to merge with Magang Group

China Baowu Iron and Steel Group is in discussions for a mega merger with Magang (Group) Holding Co. Ltd., which would consolidate Magang's nearly 20 million metric tons of steel production with Baowu's existing 65 million metric tons, reinforcing Baowu's position as the world's second largest steel producer.

“China Baowu Iron and Steel Group is in discussions for a mega merger with Magang (Group) Holding Co. Ltd., according to insiders with knowledge of the matter.”caixinglobal.com

• 1 source
• caixinglobal.comSteel Giants Forge Merger as China Moves to Strengthen State Sector - Caixin GlobalLuo Guoping, Taozi Wei, Ke DaweiSep 28, 2018

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