Chinese Steel Group Buys $1.95B Stake In Brazil's CBMM

Law360, New York (September 2, 2011, 4:57 PM EDT) -- A group of leading Chinese steel producers announced Friday that it would pay $1.95 billion for a 15 percent stake in Companhia Brasileira de Metalurgia e Mineracao, one-upping an investment in March from rival regional steel giants.

China Niobium Investment Holdings Ltd. — comprised of Baosteel Group Corp., Anshan Iron & Steel Group Corporation, Shougang Corporation, Taiyuan Iron & Steel Group Co., Ltd. and state-owned investment company CITIC Group — follows a consortium of Japanese and Korean steel companies into the Brazilian mines of niobium, a...
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