Baosteel Metal to take control of RSM Group for about CNY 1.4 billion

Baosteel Metal, a unit of Baowu Steel Group, plans to acquire a controlling 21.5% stake in RSM Group, a magnesium alloy supplier, through a private placement of 62 million new shares. The investment is about CNY 1.4 billion.

“Baosteel Metal’s investment can introduce more resources to RSM while promoting the development of Baosteel Metal’s lightweight materials and products.”www2.yicaiglobal.com

• 1 source
• www2.yicaiglobal.comBaowu Steel Unit to Take Over RSM Group to Cement Place in Lightweight Car Parts MarketTang ShihuaOct 18, 2022

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