China Baowu and Masteel sign restructuring implementation agreement

China Baowu Iron and Steel Group and Ma Gang (Group) Holding Co., Ltd. signed a restructuring implementation agreement. Anhui SASAC will transfer 51% of Masteel Group shares to China Baowu, making Baowu the indirect controlling shareholder of Masteel.

“The joint restructuring of the two sides will help to enhance the concentration of China's iron and steel industry and build a world-class steel enterprise with international competitiveness.”echemi.com

• 1 source
• echemi.comChina Baowu and Masteel group sign the restructuring implementation agreement | ECHEMIOct 8, 2019

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