China's Cedar Holdings to acquire UK's Stemcor
- Written by ACN Newswire - Press Releases
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| Cedar Holdings Group Co Ltd signs a share purchase agreement (SPA) with UK-based Stemcor Global Holdings Ltd on Jan. 21, 2020, at the World Economic Forum in Davos, Switzerland. |
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"Cedar Holdings is dedicated to building a world-leading bulk commodity group. Stemcor has a well-established global marketing network and system, which offers potential synergy with the existing domestic and international business of Cedar Holdings," said Han Gang, vice president of Cedar Holdings and president of Cedar Commodities Supply Chain Group.
"Supported by Cedar Holdings, Stemcor will be able to develop new business opportunities. The transaction is a win-win result where complementary benefits will emerge," he added.
Cedar Holdings, headquartered in Guangzhou, capital of South China's Guangdong Province, is actively expanding its global presence. It ranked 301st on the 2019 Fortune Global 500 with $40.6 billion in total revenue. https://www.cedarhd.com/en/
Stemcor, a privately-held UK-based company, is a global Top 3 independent steel trading company with business operations covering 30 countries and regions. Nearly 20 percent of its business comes from China's market. https://www.stemcor.com
Cedar Holdings GroupContact: Xudafeng Phone: +86 20-38911638 Email: media@cedarhd.com Website: https://www.cedarhd.com/en/
SOURCE: CEDAR HOLDINGS GROUP
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Authors: ACN Newswire - Press Releases
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