# China Baowu Steel to take 51% stake in stainless steelmaker TISCO

China Baowu Steel Group agreed to take a 51% stake in Taiyuan Iron & Steel (TISCO) from Shanxi State-owned Capital Operation Co Ltd. The stake is valued at 14.5 billion yuan ($2.10 billion) but Baowu will not pay for it in a state-backed restructuring.

- Type: Acquisition
- Announced: 2020-08-21
- Where: China
- Value: $2.10B
- Status: announced
- Products: stainless steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [China Baowu Steel Group](https://endata.com/companies/37069.md) (acquirer)
- [Taiyuan Iron and Steel Group](https://endata.com/companies/47791.md) (target)
- [Shanxi State-owned Capital Operation Co Ltd](https://endata.com/companies/49376.md) (investor)

## Sources

- [thestar.com.my](https://www.thestar.com.my/business/business-news/2020/08/21/china-baowu-steel-to-take-control-of-stainless-steelmaker-tisco/), 2020-08-21: "Baowu Group reached agreement with Shanxi State-owned Capital Operation Co Ltd on Friday to take a 51% stake in TISCO, according to a filing on the Shenzhen Stock Exchange by Shanxi Taigang Stainless Steel, a TISCO subsidiary."

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