Wuhan Steel inks $400m stake deal with MMX

Shanghai 30 November 2009 06:43

Wuhan Steel has signed a definitive agreement to pay $400 million for a stake in Brazilian iron ore producer MMX, and build a 5 million tpy steel mill near Rio de Janeiro, said a mill official. "We completed signing the agreement today, which includes the stakes transaction as well as the joint venture for building a steel plant," the Wuhan Steel spokesman told MB. Wuhan Steel will be MMX's second-largest shareholder, he said, declining to confirm...

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Wuhan Steel inks $400m stake deal with MMX

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