Beijing green lights Mittal's acquisition of Valin

Beijing green lights Mittal’s acquisition of Valin

Sources report that China's National Development and Reform Commission approved Mittal Steel's acquisition of a 36.7 percent stake in China'a eight largest steel plant Hunan Valin Steel Tube & Wire Co Ltd. The deal is reportedly worth $338 million. As previously reported by SteelOrbis, the deal regarding the acquisition was signed in January 2005.