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Shagang to be China's second largest steelmaker via M&A

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The offer will certainly be sealed by approximately Yuan 16 billion ($ 2.21 billion), and also Fosun will no more hold any kind of risk in Nangang must the purchase is to be finished, according to the company news. Developed in 1958, Nangang is based in East China's Jiangsu district as well as produced a total amount of

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Shagang Group (Shagang), China's third-largest (and a hopeful runner-up) steel producer in terms of crude steel output, has advanced its merger and acquisition (M&A) strategy by taking 60% stake in Nanjing Iron & Steel United Co. (Nangang) from Chine...

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