ARCELOR TO BUY INTO LAIGANG LATER
AsiaInfo Services, January, 2007
AsiaInfo Services 01-23-2007 Arcelor to Buy into Laigang Later SHANDONG, Jan 23, 2007 (SinoCast via COMTEX) -- Laiwu Steel Corporation (SHSE: 600102, Laigang), a Shandong-based large steel producer, announced recently that it would prolong the valid period of the contract with Arcelor, a world leading steel company, about acquiring its stake to June 30, 2007. The deal will be finished within prospective period, said one insider from Laigang.
But the exact time was not released. It was on February 24 in 2006 that Arcelor reached agreement with Laigang about acquiring a 38.41% stake in the latter for CNY 5.888 per share. But at present, the deal is still under examination of associated government departments. About this deal, according to another insider, it...
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