[Ferro-alloys.com] Japan steelmaker JFE Steel Corporation announced that the company has signed a contract for US$2.25 billion acquisition of Formosa Ha Tinh of 5% stake. Meanwhile, Ha Tinh was a joint venture company, the first integrated steel mill in Vietnam. 

Currently, Taiwan’s Formosa Plastics Group holds 81% shares, CITIC owns 19% shares. After the acquisition is completed, Formosa will hold 70%, CITIC will hold 25%, and JFE steel will hold 5%, respectively.

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• [Editor:Chen Lian Hai]