Tag: Baowu group new acquisition
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China: Baowu group to take control of TISCO
The Baowu group with Shanxi State-owned Capital Operation Co Ltd has signed an agreement to take 51% stakes in Taiyuan Iron & Steel Co, Ltd (TISCO), worth RMB 14.5 billion ($ 2.10 billion). Taking a controlling stake in TISCO will help Baowu achieve a goal of producing 100 mn t of steel per year.