International Steel Mills
November 18, 2014
Duferco to Sell Majority Share to Hebei Iron & Steel
Written by Sandy Williams
The world’s largest steel trader, Duferco International Trading Holding, confirmed Tuesday it will sell a majority stake to China’s Hebei Iron & Steel Group. The deal is valued at approximately $400 million according to China News Service.
The agreement, signed on Tuesday, is aimed at enhancing the ability of China’s largest steel company to sell steel in foreign markets. The purchase will increase Hebei’s current 10 percent share in Duferco to 51 percent.
