Baosteel s recombination of Shaoshan Iron & Steel (Shaogang) and Guangzhou Iron & Steel (Guanggang) has been hanging for many year, but presently it still in right confirmation phase as well as Zhanjiang project, with the slow progress due to the influence of macroeconomic control.
In response to the scandals that Baosteel is intended to fully control Guangdong Steel by purchasing the assets of Guangang and Shaogang, recently the insiders told reporters that Baosteel did not do the responsible investigation to Shaogang and Guanggang.
Wang Chengran, business director, responsible for Baosteel investment business, told reporters that although the due diligence did not carry out, when or whether to do it is no conclusion now.
Baosteel: the asset to be confirmed the right
"Not a responsible investigation, but a asset evaluation Yang Yaowei, secretary to president of Guanggang Stocks told reporters, added after Guangdong Steel found last year, it had sent someone to do assets evaluation and audit, but the detailed figure is not known.
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In response to the scandals that Baosteel is intended to fully control Guangdong Steel by purchasing the assets of Guangang and Shaogang, recently the insiders told reporters that Baosteel did not do the responsible investigation to Shaogang and Guanggang.
Wang Chengran, business director, responsible for Baosteel investment business, told reporters that although the due diligence did not carry out, when or whether to do it is no conclusion now.
Baosteel: the asset to be confirmed the right
"Not a responsible investigation, but a asset evaluation Yang Yaowei, secretary to president of Guanggang Stocks told reporters, added after Guangdong Steel found last year, it had sent someone to do assets evaluation and audit, but the detailed figure is not known.
For more information please click: www.chinametalbiz.com
