# China Baowu Steel Group to acquire 51% stake in Magang Group

China Baowu Iron and Steel Group will take a 51% stake in Magang Group Holding Co. Ltd., as announced by Magang's listed unit on 2 June 2019, pending regulatory approval.

- Type: Acquisition
- Announced: 2019-06-03
- Where: China
- Status: announced
- Products: steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [China Baowu Iron and Steel Group](https://endata.com/companies/34590.md) (acquirer)
- [Magang (Group) Holding Co. Ltd.](https://endata.com/companies/34591.md) (target)

## Sources

- [caixinglobal.com](https://www.caixinglobal.com/2019-06-03/steel-giant-baowu-closes-in-on-worlds-biggest-steelmaker-with-magang-merger-101423040.html), 2019-06-03: "State-owned China Baowu Iron and Steel Group will take a 51% stake in Magang Group Holding Co. Ltd., an announcement by Magang's listed unit told the Shanghai Stock Exchange on Sunday."

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