# Baosteel plans to acquire 48.6% equity in Shandong Steel Rizhao

Baosteel plans to invest RMB 10.703 billion ($1.5 billion) to acquire 48.6139% equity in Shandong Steel Rizhao Co., Ltd., aiming to enhance its market impact in northern China.

- Type: Acquisition
- Announced: 2023-12-08
- Where: Rizhao, Shandong, China
- Value: $1.50B (10.7B CNY)
- Status: announced
- Capacity: 8.5 million mt crude steel per year
- Products: crude steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [Baosteel](https://endata.com/companies/45744.md) (acquirer)
- [Shandong Steel Rizhao Co.](https://endata.com/companies/74300.md) (target)

## Sources

- [steelorbis.com](https://www.steelorbis.com/steel-news/latest-news/baosteel-plans-to-acquire-486139-equity-in-shandong-steel-rizhao-co-1318542.htm), 2023-12-08: "Baosteel has announced that it plans to invest RMB 10.703 billion to acquire 48.6139 percent equity in Shandong Steel Rizhao Co."

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