Guangxi Province-based Chinese steelmaker Liuzhou Iron & Steel Co., Ltd. (Liuzhou Steel) intends to acquire a 13 percent equity stake in Guangxi Iron & Steel Group Co., Ltd. (Guangxi Iron & Steel Group) from Guangxi Liuzhou Iron & Steel Group Co., Ltd. (Guangxi Liuzhou Steel Group) through a combination of share issuance and a cash consideration, and by raising ancillary funds.
After the transaction, the listed company Liuzhou Steel will hold a 58.11 percent equity stake in Guangxi Iron & Steel Group, giving it a controlling share.
