Hangzhou Steel to acquire multiple trading assets for RMB 3.1B

Hangzhou Iron and Steel Co., Ltd announced plans to acquire stakes in Zhejiang Metallurgical Materials Co., Ltd, Zhejiang Iron and Steel International Trade Co., Ltd, Dongling Commerce and Trade, and assets from Zhejiang Fuchun Co., Ltd, totaling RMB 3.1 billion. The transactions will be funded through share issuance and cash.

“Hangzhou Iron and Steel Co., Ltd announced that it plans to issue shares for Ningbo Commerce and Trade Group to acquire 85 percent equity in Zhejiang Metallurgical Materials Co., Ltd and 85 percent equity in Zhejiang Iron and Steel International Trade Co., Ltd”steelorbis.com

• 1 source
• steelorbis.comHangzhou Steel to buy RMB 3.1 billion assets to strengthen in tradingEunice OuyangMay 25, 2020

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