Jincheng Shazhou Equity Investment to acquire 43% stake in Dongbei Special Steel

Friday, 21 July 2017 10:33:40 (GMT+3)   |   Shanghai
       

Liaoning Province-based Chinese steel producer Dongbei Special Steel Group has announced that Zhejiang-based Jincheng Shazhou Equity Investment Co. and Liaoning-based steel producer Bengang Steel Plates Co. are to invest RMB 4.462 billion ($0.66 billion) and RMB 1.038 billion ($0.153 billion) respectively in bankrupt steelmaker Dongbei Special Steel and will accordingly hold 43 percent and 10 percent stakes in the company after the restructuring of its debts.


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