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Baosteel plans to purchase 30% shares of MinasRio, AngloAmercian
Baosteel plans to purchase 30% shares of MinasRio, AngloAmercian
Published: 08 Oct 2009 22:47:40 PSTOctober 9 MetalBiz--It is reported that Baosteel as the largest steel manufacturer in China plans to form strategic alliance with AngloAmerican.
According to the report, Baosteel has proposed a cooperation plan to AngloAmerican, valued 1bln pound (about 11bln yuan) to buy 30% shares of MinasRio ore in Brazil, which is a subsidiary of the latter.
This asset was purchased by AngloAmerican with U.S. $5.9bln in 2008.
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