Chinese state owned world’s largest steel maker Baowu Steel Group has acquired a 51% stake in Jiangxi Province’s steel maker XinSteel in CNY 4.26 billion (USD 630 million) deals announced in April with state owned Capital Operation Holding Group, which held 100% equity in Xinsteel Group, the controlling shareholder of Xinyu Steel Founded in 1982, Xinsteel Group is located in Xinyu city in Jiangxi Province and has an annual crude steel capacity of 10 million tonnes. Baowu was established in 2016 by the reorganisation of the former Baosteel Group and Wuhan Iron and Steel Group.
Chinese state owned world’s largest steel maker Baowu Steel Group has acquired a 51% stake in Jiangxi Province’s steel maker XinSteel in CNY 4.26 billion (USD 630 million) deals announced in April with state owned Capital Operation Holding Group, which held 100% equity in Xinsteel Group, the controlling shareholder of Xinyu Steel Founded in 1982, Xinsteel Group is located in Xinyu city in Jiangxi Province and has an annual crude steel capacity of 10 million tonnes. Baowu was established in 2016 by the reorganisation of the former Baosteel Group and Wuhan Iron and Steel Group.
