Tianjin Youfa Steel Closes 53% Stake Acquisition in Cangzhou Longtaidi Pipeline

MT Newswires Live

09/01

Tianjin Youfa Steel Pipe (SHA:601686) completed the acquisition of a 53% stake in Cangzhou Longtaidi Pipeline Technology for 672.2 million yuan.

The acquisition was funded with the company's own and self-raised funds, according to a Friday filing.

Cangzhou Longtaidi has completed the required industrial and commercial registration changes and received a renewed business licence, making Youfa Group the controlling shareholder.

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