Baowu Steel Group plans to buy shares from Tsingshan Holding Group

It has been announced that Baowu Steel Group, the world's largest crude steel producer, may acquire controlling shares of part of Tsingshan Holding Group's integrated production lines. Baowu continues to negotiate with Tsingshan regarding the sale of assets, including its stainless steel and nickel pig iron production facilities. The value of the deal is said to be between $3 billion and $4 billion.