China's Baowu Steel to acquire majority stake in rival Magang

China's Baowu Steel to acquire majority stake in rival Magang

Photo: Reuters

China Baowu Steel Group, the world’s second-largest steel producer, will acquire a majority stake in rival Magang Group Holding Co Ltd as China pushes for consolidation in its steel industry.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter