# 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%.

- Type: Acquisition
- Announced: 2022-09-29
- Where: China
- Value: $250.0M (1.75B CNY)
- Status: announced
- Products: stainless steel, metal materials
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Taigang Stainless Steel Co., Ltd.](https://endata.com/companies/65660.md) (acquirer)
- [Xinhai Industrial Co., Ltd.](https://endata.com/companies/65661.md) (target)
- [Xinhai New Material Co., Ltd.](https://endata.com/companies/65662.md) (partner)

## Sources

- [steelorbis.com](https://www.steelorbis.com/steel-news/latest-news/taigang-stainless-steel-to-increase-investment-in-xinhai-industrial-by-rmb-174879-billion-1261964.htm), 2022-09-29: "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."

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