INI-Hysco may finalize Hanbo takeover by August

INI-Hysco may finalize Hanbo takeover by August

Recent market news reports that INI-Hysco consortium is getting prepared to initiate final round of negotiations to complete takeover of Hanbo Steel, a bankrupt Korean steel producer. As previously reported by SteelOrbis, INI-Hysco consortium was selected as the preferred bidder in the tender held for sale of assets of Hanbo Steel and INI-Hysco and Hanbo officials signed memorandum of understanding for the takeover. It is stated that, in the final round of negotiations, provided that both sides agree on price and all terms, sale will be completed by August.