Mining market intelligence providers Metal One Corporation, Japan and Shanghai Ganglian E-Commerce Holdings Co. Ltd., China and three founder shareholders of India’s leading steel information company, SteelMint, have entered into a joint venture, selling a majority stake to the . Metal One and Ganglian will invest in SteelMint via a joint venture company to be incorporated by them in Hong Kong.

India’s leading market intelligence provider in the iron and steel sector, SteelMint Info Services LLP, on November, 27, 2019, signed an investment agreement with its Chinese counterpart, Shanghai Ganglian E-commerce Holdings Co. Ltd. (Ganglian), and the latter’s Japanese business partner, Metal One Corporation. Shanghai Ganglian is part of China’s Multi-Billion Dollar Fosun Group and Metal One is a part of Japanese behemoth Mitsubishi Corporation. Upon signing of this agreement, Ganglian and Metal One will jointly hold 55% shares of SteelMint through their Hong Kong joint venture.
— Company Press Release

Lakshmikumaran & Sridharan advised Metal One Corporation, Japan and Shanghai Ganglian E-Commerce Holdings Co Ltd, China, led by a team of executive partner Sudish Sharma, joint partner Tanya Sharma and senior associate Anantha Desikan S.

Economic Law Practice acted for SteelMint Info Services and its founders, led by partner Darshan Upadhyay, partner Amit Manubarwala, associate partner Ananthram Ganesh and associate manager Karan Narvekar.

Deacons Hong Kong office advised Metal One Corporation and Shanghai Ganglian E-Commerce Holdings on Hong Kong laws, led by partner Toh Guat Kim.

C&S Law Firm China advised Metal One Corporation and Shanghai Ganglian E-Commerce Holdings from a China laws perspective, with senior associate Xuqing Wu.

2019-11-29

Deal value: Confidential

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.