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In Depth: Will Fosun’s $2.2 Billion Steel Unit Sale Save the Conglomerate?

By Luo Guoping, Bao Zhiming, Shi Yimin and Denise Jia
2022年11月02日 15:46
Offloading Nangang Iron & Steel may be the beginning of the end, or a fresh start for the debt-laden giant
Shagang’s plant in East China’s Jiangsu province on July 21. Photo: VCG

Fosun International Ltd.’s $2.2 billion sale of its 60% stake in Nanjing Nangang Iron & Steel United Co. Ltd. was either a desperation move — or a sign that the debt-laden conglomerate is about to turn a corner in its fight for survival.

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