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