Nanjing Iron and Steel Group plans to absorb and merge controlling shareholder Nanjing Iron and Steel United
- Nanjing Iron and Steel Group will absorb Nanjing Iron and Steel United and acquire 57.13% of its shares.
- Nanjing Steel Group will acquire 100% equity of Nanjing Steel United.
- The direct controlling shareholder will change from Nanjing Iron and Steel United to Nanjing Steel Group after completion.
- CITIC Group remains the actual controller after the deal.
