# 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.

- Type: Acquisition
- Announced: 2020-05-25
- Where: China
- Value: $440.0M (3.10B CNY)
- Status: announced
- Products: metal products, raw materials trading
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Hangzhou Iron and Steel](https://endata.com/companies/28084.md)
- [Zhejiang Metallurgical Materials](https://endata.com/companies/47432.md) (target)
- [Zhejiang Iron and Steel International Trade](https://endata.com/companies/47433.md) (target)
- [Dongling Commerce and Trade](https://endata.com/companies/47434.md) (target)
- [Zhejiang Fuchun](https://endata.com/companies/47435.md) (target)

## Sources

- [steelorbis.com](https://www.steelorbis.com/steel-news/latest-news/hangzhou-steel-to-buy-rmb-31-billion-assets-to-strengthen-in-trading-1147291.htm), 2020-05-25: "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"

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