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Article: Sinosteel to obtain controlling stake in ferromanganese producer in Guangxi.
- Article from:
- China Business News
- Article date:
- September 4, 2008
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Sinosteel to obtain controlling stake in ferromanganese producer in Guangxi
Shanghai. September 4. INTERFAX-CHINA - State-owned Sinosteel Corp.
recently inked a cooperation framework agreement with the municipal government of the Guangxi Zhuang Autonomous Region's Laibin City for a controlling stake in China's largest ferromanganese producer, Guangxi Bayi Ferroalloy Co. Ltd., a Bayi Ferroalloy official told Interfax on Sept. 4.
The official, surnamed Yang, confirmed Sinosteel will obtain a controlling stake in Bayi Ferroalloy by investing approximately RMB 10.4 billion ($1.52 billion). The municipal government, the current sole owner of Bayi ...