Hunan-based Chinese steelmaker Valin Group plans to increase its stakes in two of its subsidiaries, namely, Hunan Valin Xiang Steel and Valin Lian Steel, and to use the proceeds from the transactions to increase the funds available to these companies.
Accordingly, Hunan Valin Group plans to acquire a 5.48 percent stake in Valin Xiang Steel and a 5.01 percent stake in Valin Lian Steel, and to invest the proceeds back into the two subsidiaries.