Henan Province-based Chinese steelmaker Anyang Steel announced on January 5 that Henan State-owned Capital Operation Group Co., Ltd. (Henan Capital Group) will become the indirect controlling shareholder of Anyang Steel.
Capital Operation Group will indirectly acquire RMB 1.918 billion ($0.28 billion) equity in Anyang Steel held by Henan Machinery and Equipment Investment Group (Henan Equipment Investment Group), accounting for 66.78 percent in the general capital of Anyang Steel. After the completion of the equity transfer, Angang Group will continue to be the direct controlling shareholder of Anyang Steel, while Henan State-owned Capital Operation Group will be its indirect controlling shareholder.