Dongbei Special Steel to take majority stake in Fushun Special Steel

On November 30, Liaoning Province-based Chinese steel producer Fushun Special Steel announced that Chinese steelmaker Dongbei Special Steel Group currently holds 224 million shares in Fushun Special Steel, accounting for 43.02 percent of total shares. Furthermore, after the planned acquisition by Dongbei Special Steel Group of a further 68.1509 million shares in Fushun Special Steel, which were previously non-tradable and held by Fushun Special Steel Group, Dongbei Special Steel will hold approximately 292 million shares in Fushun Special Steel, making it the controlling shareholder with a 56.13 percent stake