Caixin
May 26, 2015 05:44 PM

Rescue in the Works for Indebted Sinosteel

(Beijing) – China's economic slowdown and slumping iron ore prices have intensified what's now a 2-year-old financial crisis at one of the country's biggest resource-trading companies, Sinosteel Corp.

But sources from banks recently told Caixin that new, unnamed investors are poised to rescue Sinosteel as part of a broad restructuring plan. The plan was expected to be announced by the end of June.

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code