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
Economic Law Practice acted for
Deacons Hong Kong office advised
C&S Law Firm China advised
2019-11-29
Deal value: Confidential
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