Jianlong Group mulling acquiring Xingtai Steel
Feb 19, 2021 16:00
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Beijing Jianlong Heavy Industry Group (Jianlong), a privately-owned steel conglomerate headquartered in Beijing experienced in acquisition and restructuring, is tipped to acquire Xingtai Iron & Steel (Xingtai Steel), a leading specialty longs maker based in Xingtai city in North China’s Hebei province, Mysteel Global has learned.
“The Xingtai local government has been striving hard to push the deal, and in discussions, Jianlong has shown its sincerity, so a takeover is highly possible,” a Xingtai Steel official disclosed on Thursday. When this might happen remains unclear, however.
According to local media reports, beginning from February 10 the local