Leading international law firm Clifford Chance has advised Sinosteel Group Corporation Ltd. on the multi-jurisdictional merger control filings for its acquisition of control of Samancor Chrome. Notably, the transaction obtained antitrust clearance with conditions in South Africa.
Lead partner Yong Bai said, “We are delighted to assist Sinosteel on the international aspects of their strategic acquisition of control of Samancor Chrome. The transaction contributes to our multi-jurisdictional depth of expertise and robust track record acting for major Chinese companies in core economic sectors.”
Yong Bai was supported by foreign legal consultant Dayu Man in Hong Kong. Bowmans advised Sinosteel on South African law.
In the iron and steel sector, Clifford Chance’s market-leading Greater China antitrust team has recently advised China Baowu Steel Group on the merger controls and foreign direct investment filings in numerous jurisdictions for its acquisition of a 51% stake in Taiyuan Iron & Steel in 2021, and for its acquisition of 51% interest in Magang Group in 2019, respectively.
Sinosteel is a state-owned enterprise engaged in developing and processing of metallurgical mineral resources, trading and logistics of metallurgical raw materials and products, and related engineering technical service and equipment manufacture. South Africa-based Samancor Chrome is one of the largest ferrochrome producers in the world.
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