# 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.

- Type: Acquisition
- Announced: 2019-10-08
- Where: Hefei, China, 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)
- [Ma Gang (Group) Holding Co.](https://endata.com/companies/42573.md) (target)

## Sources

- [echemi.com](https://www.echemi.com/cms/70529.html), 2019-10-08: "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."

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