Baoshan Iron & Steel to sell stainless steel unit to Baosteel Group
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Monday, 12 Dec 2011
Reuters reported that Baoshan Iron & Steel Co Ltd said that it would sell its stainless steel unit to its parent, Baosteel Group, to optimise asset allocation.
Baoshan Iron & Steel said in a filing to the Shanghai Stock Exchange that the estimated book value of the assets involved will not exceed 20% of the company's latest audited total assets.
(Sourced from Reuters)
