Finance / China
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General Steel To Acquire 80% Stake In Yantai
September 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Beijing-based General Steel Holdings announced on September 4 that it has signed a letter of intent to acquire 80% of Yantai Steel Pipe. General Steel is one of China's leading non-state owned steel products producers. The stake in Shandong-based Yantai Steel Pipe will be acquired from Laiwu Iron & Steel Group and the company will become a joint venture (JV) with General Steel owning 80% and Laiwu owning the remaining 20%. The financial terms of the deal have not been disclosed.