The Chinese conglomerate Fosun International and its unit Fosun Industrial Development sold their entire equity interests in four steel-related companies to steel smelter Camdragon Heavy Industry for CNY 6.7 billion. Fosun Industrial disposedTianjin Jianlong Iron & Steel Industrial - 25.7% stakeJianlong Steel Holdings - 26.7% stakeBeijing Northern Jianlong Industrial - 26.7% stakeJaneboat Holdings - 26.7% stake Fosun said “Proceeds will be used to boost the group's working capital. The sale will enable Fosun to focus on its key businesses.”
The Chinese conglomerate Fosun International and its unit Fosun Industrial Development sold their entire equity interests in four steel-related companies to steel smelter Camdragon Heavy Industry for CNY 6.7 billion. Fosun Industrial disposedTianjin Jianlong Iron & Steel Industrial - 25.7% stakeJianlong Steel Holdings - 26.7% stakeBeijing Northern Jianlong Industrial - 26.7% stakeJaneboat Holdings - 26.7% stake Fosun said “Proceeds will be used to boost the group's working capital. The sale will enable Fosun to focus on its key businesses.”
