# Baosteel to acquire Nippon Steel's 50% stake in auto steel joint venture

China's Baosteel will acquire Nippon Steel's 50% stake in their auto steel joint venture for about $242 million.

- Type: Acquisition
- Announced: 2024-07-23
- Where: China
- Value: $242.0M
- Status: announced
- Products: auto steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md), [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Nippon Steel](https://endata.com/companies/7455.md) (target)
- [Baosteel](https://endata.com/companies/45744.md) (acquirer)
- [Baosteel-Nippon Steel Automotive Steel Sheets Co., Ltd.](https://endata.com/companies/78786.md) (target)

## Sources

- [apnews.com](https://apnews.com/article/china-nippon-steel-baosteel-ussteel-9b91969921132b934a40f63a70327629), 2024-07-23: "China’s Baosteel said Tuesday that it will acquire Nippon Steel’s 50% stake in their auto steel joint venture for about $242 million."
- [mesteel.com](https://mesteel.com/news/baosteel-to-acquire-nippon-steels-50pct-share-in-steel-jv-for-usd-242-mln), 2024-07-23: "Baosteel announced separately that it will acquire Nippon Steel's 50pct stake in the auto steel joint venture for approximately USD 242 mln."
- [steelorbis.com](https://www.steelorbis.com/steel-news/latest-news/baosteel-to-acquire-bna-ending-20-year-cooperation-with-nippon-steel-1350130.htm), 2024-07-24: "On July 23, Baosteel announced that its board of directors had passed a resolution according to which it plans to invest RMB 1.758 billion in acquiring 50 percent equity of BNA."

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