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Article: Fosun Group in talks to buy part of Hainan Steel.
- Article from:
- China Business News
- Article date:
- November 1, 2005
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Fosun Group in talks to buy part of Hainan Steel
Shanghai. November 1. INTERFAX-CHINA - Fosun Group, a private biotechnology company based in Shanghai, is in talks to buy part of Hainan Iron and Steel Co. Ltd., an official with Fosun Group told Interfax today.
"The company signed a strategic partnership agreement with the Hainan government last week. The company plans to invest RMB 2 bln (USD 247.83 mln) to develop the industries of steel, mining, and real estate in Hainan, which will probably include participating in the asset restructuring of Hainan Steel," an official surnamed Wang with enterprise culture department of the Fosun said.
Hainan ...