# 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.

- Type: Acquisition
- Announced: 2022-10-18
- Where: China
- Value: $194.0M (1.40B CNY)
- Status: announced
- Products: magnesium alloys, lightweight car parts
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md), [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Baosteel Metal](https://endata.com/companies/51409.md) (acquirer)
- [RSM Group](https://endata.com/companies/65882.md) (target)

## Sources

- [www2.yicaiglobal.com](https://www2.yicaiglobal.com/news/china-baowu-to-take-control-of-rsm-for-lightweight-car-parts-edge), 2022-10-18: "Baosteel Metal’s investment can introduce more resources to RSM while promoting the development of Baosteel Metal’s lightweight materials and products."

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