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China’s Ansteel quietly proceeding with merger of Bengang

ABSTRACT

Anshan Iron & Steel Group (Ansteel) in Northeast China’s Liaoning province has been quietly progressing with its merger of Bengang Group (Bengang), another state-owned steel mill in the province, as more shares of Bengang’s Shenzhen-listed arm have been transferred to the group company free of charge to facilitate the merger, a Bengang official confirmed on July 21.
“The merger is proceeding smoothly, though the timeline of the completion has remained unclear,” he commented briefly. A release by Bengang Steel Plates Co (Bengang Plates), Bengang’s listed arm, confirmed the official’s comment, as it disclosed on July 17 that three shareholders, all being state-owned but not steel related, have agreed

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