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Jingye Pulls Out of Running to Buy British Steel

Steel News - Published on Tue, 23 Jul 2019

Image Source: britishsteel.co.uk
Financial Times, citing two people briefed on the matter, reported that Hebei province based Chinese Jingye Group has pulled out of the running to buy British Steel. A source said “Jingye, whose identity as a bidder was not publicly known until now, had reconfirmed its interest in British Steel as recently as last week. But it is no longer considering the acquisition, having changed its mind in the past few days”

Based in China’s industrial heartland of Hebei province, Jingye also owns hotels and a medicines business alongside its main steelmaking operations.

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Posted By : Ratan Singh on Tue, 23 Jul 2019
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