Chinese steel pipe producer Tianjin You Fa Steel Pipe Group Stock Co., Ltd announced on November 2 that it plans to acquire 30 percent of equity in Sichuan Province-based Yunganglian Supply Chain Management Co., Ltd., which is held by Delong Steel Group, at a zero transaction cost.
After the acquisition, You Fa Steel Pipe will hold 100 percent equity in Yunganglian Supply Chain, with the latter company becoming its wholly-owned subsidiary.