South Korea: South Korea's steelmaker POSCO has offloaded its shares in POSFINE Co, a slag powder producer, to a private equity fund for an estimated US$27.5m.
Under the deal, POSCO sold its 69.22% stake in POSFINE to Hahn & Co. The move came two months after POSCO had opened talks with the fund in line with its reorganisation efforts. Hahn & Co also reportedly plans to acquire the remaining shares in POSFINE from Tongyang Cement & Energy Corp, Lafargehalla Cement Corp and SSangyong Cement Industry Co.
