The arrival of a large, private shareholder through an ownership reshuffle at Nanjing Iron & Steel will aid the Chinese steelmaker in its plan to build a new flat products plant. Shanghai-based pharmaceutical company Fuxing Group and two affiliates have taken a controlling 60 percent stake in a new joint venture - Nanjing Gangtie Lianhe - that will own and operate Nanjing Iron & Steel Co, the listed arm of Nanjing Iron & Steel (Group) Corp. The Shanghai-listed Nanjing Iron & Steel Co was previously owned 70.95 percent by its parent corporation, which will now retain a stake of only 40 percent.
展开▼
