◂ Announcements

Sep 29, 2022ACQUISITIONChina

Taigang Stainless Steel to acquire 51% stake in Xinhai Industrial

Taigang Stainless Steel Co., Ltd. signed a capital increase agreement to invest RMB 1.74879 billion in Xinhai Industrial Co., Ltd., acquiring a 51% equity stake. Xinhai New Material Co., Ltd. will hold the remaining 49%.

Value

$250.0M (1.75B CNY)

Status

Announced

Productsstainless steelmetal materials

CompaniesTaigang Stainless Steel Co., Ltd. acquirer Xinhai Industrial Co., Ltd. target Xinhai New Material Co., Ltd. partner

Sectors#Steel and Metal Products

“Taigang Stainless Steel has announced that it has inked a capital increase agreement with... Xinhai Industrial Co., Ltd., planning to increase its investment in Xinhai Industrial by RMB 1.74879 billion.”steelorbis.com

1 source
steelorbis.comTaigang Stainless Steel to increase investment in Xinhai Industrial by RMB 1.74879 billionEunice OuyangSep 29, 2022

Summarized from public sources; check the original articles before acting on it.

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