Baowu Group reached agreement with Shanxi State-owned Capital Operation Co Ltd on Friday to take a 51% stake in TISCO.
BEIJING: China Baowu Steel Group, the country's top steelmaker by output, has agreed to take a controlling stake in stainless steel giant Taiyuan Iron & Steel (Group) Co Ltd, also known as TISCO, in a further consolidation of the country's mammoth steel sector.
Baowu Group reached agreement with Shanxi State-owned Capital Operation Co Ltd on Friday to take a 51% stake in TISCO, according to a filing on the Shenzhen Stock Exchange by Shanxi Taigang Stainless Steel, a TISCO subsidiary.
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