Clifford Chance

Clifford Chance advises China Baowu Steel on antitrust aspects of its 51% stake in Taiyuan Iron & Steel

Leading international law firm Clifford Chance has advised China Baowu Steel Group Corporation Limited on the merger controls and Foreign Direct Investment filings in numerous jurisdictions for its acquisition of a 51% stake in Taiyuan Iron & Steel (Group) Co. Ltd. (TISCO).

Partner Yong Bai led the cross border team and in Beijing was supported by senior associate Dayu Man, associate Nan Lan, and trainees Zihan Zheng and Shuai Gao. Other leads involved in the global network included partners Richard Blewett and Anastasios Tomtsis and associate Jonathan Blondeel  in Brussels, partner Torsten Syrbe and associate Ilya Stekunov in Moscow, counsel Masafumi Shikakura in Tokyo, and partner Itir Ciftci and associate Berk Kıspet from our associate firm CIFTI Law Firm in Istanbul.

Yong Bai said, "We are very pleased that our international team was able to provide China Baowu with deep expertise and complex understanding across jurisdictions."

In 2019, the firm acted on China Baowu's acquisition of 51% interest in Magang Group, assisting on antitrust filings in various jurisdictions. 

China Baowu Steel Group is a state-owned iron and steel company headquartered in Shanghai. With this acquisition, it is now the largest iron and steel company in the world.